MLPS DOWN OVER 6 POINTS

When your flat or up 17 days in a row and your extended far from the 34 day moving average i think a pullback is a no-brainer. I would have thought it might have waited for the round of ex-distributions which starts in the next few days but no matter. They are starting it now. Enbridge Energy Partners (EEP ) is down over 2 dollars on the Lakehead Pipeline leak in Lake Michigan. In the wake of BP its shoot now ask questions later. Crosstex (XTEX,XTXI) is expanding its presence in Barnett Shale. XTEX is flat but XTXI is up over 30 cents or 5% on the day. Alliance Resource (ARLP) Nustar (NS) Plains All American (PAA) and a number of the big boys are down 1 point or more as we head into afternoon trading.

Markets overall holding basically flat to a little lower right now.