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Monday, November 22, 2010

The MLP index is doing some rebalancing at the end of the month and coming into the index is Martin Midstream Partners (MMLP). Since we now live in a world with etf's and etns in the mlp land the index change means the efts have to buy the stock. Martin is up 1.15 on the news. The index itself is down about 1 point and off the lows of the day. Natural Resource Partners (NRP) is down 88 cents as the biggest loser today. Markwest (MWE) Buckeye(BPL) and Energy Transfer (ETP) are down major fractions. On the winning side Copano (CPNO) Nustar (NS) and Alliance Resource (ARLP) are up fractionally.

Yields are rallying right now as the 30 year which dropped to 4.169 is now back to 4.22% and markets overall are off the lows of the day with the dow down about 100 after being down 140. Natgas is firm as we are attempting a breakout.

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