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Tuesday, November 16, 2010

MLP index is selling off down over 6 points led by Plains All American (PAA) which is down nearly 2 on the stock offering. Nustar (NS) is down almost 2 and Alliance Resource (ARLP) is down 1.50. Magellan (MMP) Penn Virginia Resource (PVR) Sunoco Logistics, Buckeye (BPL) and a host of others down 1 or more. Almost every mlp is down right now.

Market is getting battered by the rising dollar and Europe gitters over Greece and Ireland. There was a time that they would run to the 30 year for safety but thats not happening today as rates opened lower but its now higher. 4.375 on the 30 year which is now up a few ticks on the day. 4.41% was the late day high yesterday. Dow down 132.

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