Pretty ugly out there. We are being pulled down with everything else. The MLP index was down 4 points and just off the lows of the day but it remains 16 points above last Monday's reaction low at 280. I have to think that will hold unless there is another hedge fund or 2 out there waiting to do another wholesale dump. These stretches are never fun...difficult to trade...and make you want to curse at the screen if you are a trade. Investors long term, for you, just another chance to get these things on the cheap.

One thing is for sure. On a yield basis the spreads which on some of the growers in the group were in some cases 0 or even slightly negative to the 10 year have widened back to 2 to even 3 points in the other direction. So the repricing of risk continues. Atlas Pipeline Partners (APL) is going to a 4 dollar distribution next year which gives you a going foward yield right now of almost 8.6%! or nearly 4 points above the 10 year! I would think this is a screaming buy in here but who knows. If the sell off spirials out of control who knows how low these things will get!

No after market news of consequence so far. Clarice the doe in "Rudolph The Rednosed Reindeer" sang the solo...there's always tomorrow for dreams to come true!"


But then again what did she know. She was the root of all his problems.