11 points down on the mlp index and there are 1 to 2 point losses in just about every major mlp and every one in the group is down. That trip down to 350 is coming in a big hurry as investors flee the taxation threat. If this does not come to pass than it is probably a great buying opportunity but then again we all know what happened to the Canadian Royal Trusts a few years ago when the tax threat became a reality.

EV Partners (EVEP) and Alliance Resource (ARLP) are down 3 points. Williams (WPZ) Markwest (MWE) Atlas Energy LP (ATLS) and Oneok (OKS) are down 2 each. And there is a long list of mlps losing 1 to 2 points on the day.

The dow is down 100 points and energy stocks as a whole are selling off so there are lots of headwinds which indicate that a bounce from here is not in the cards.