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Thursday, January 20, 2011

The mlp index is down nearly 7 points and notice that we are in the support zone but i have a feeling we're headed down to that 350 bottom which will be a big test. The rising headwinds of interest rates may be finally be taking its toll. Alliance Resource (ARLP) is down nearly 5 dollars and near the lows of the day. Natural Resource Partners (NRP) is down 2.50; these are the 2 biggest and obvious losers in the group. And the list is littered with 1 point plus losers like Buckeye (BPL) Nustar (NS) EV Partners (EVEP) TC Pipelines (TCLP) and Linn Energy (LINN).

Targa Natural Resources (NGLS) is coming off its stock offering yesterday and its up 40 cents as a result after being down 2 yesterday.

The tape feels like its going to get rough later today.

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