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Wednesday, October 27, 2010

The 3.60 drop on the mlp index is being exaggerated by the ex distributions of Kinder Morgan (KMP) and Enterprise (EPD) among others. The changes are for the most part contained at around 50 cents or so. Some standouts include Alliance Resource (ARLP) and Alliance Holdings (AHGP) as they are down 2 plus points on the LP and 1 plus on the GP off the earnings which were good but guidance was a little contained. Stocks have had big runs anyway so no big surprise here. Oneok(OKS) and Sunoco Logistics (SXL) losing major fractions. Some mlps are a little higher like Martin Midstream (MMLP) and Nustar (NS).

Dow is down 120 as we sell off on the WSJ leak. Rates on the long end went to 4.06 on the open but have pulled back closer to 4. Still the selloff seems relatively contained so far.

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