MLPS LOWER AT THE OPEN

We're in that news vacuum that is the last month of any quarter. There really isn't too much going on to drive individual issues. Energy Transfer Equity (ETP) is doing a public offering of senior notes to the tune of a billion dollars. El Paso Partners (EPB) is doing a 10 million share public offering. The stock is down 1.14 this morning. Those are the only 2 items of note this morning.

Overall markets are dealing with Japanese intervention with the yen last night which was the first intervention in the currency markets in 6 years. Energy is lower this morning ahead of inventory numbers. Stocks in general open lower with rates higher but off the highs of the day. The mlp index is down a point in the early going with the list being dominated by small fractional moves in either direction.

Looks like we're consolidating in here waiting for the next move which we know could take us in either direction although it appears the path of least resistence is up...for now.