MLPS AT A CRITICAL JUNCTURE

Sorry for the late first post but had internet and computer issues this morning which are now resolved. We opened lower and moved down 3 points on the MLP index. Now as the market turned so has the index and we are off the lows and back over 304. We are in an area where there are lots of moving average lines crossing and the 200 day moving average is at 306 so we are back under it for now. If today's turnaround is real we could see us get everything back by the close. Wishful thinking on my part perhaps but i think its important that we close near the highs of the day here in order to remain optimistic for the medium turn and that the 290 bottom has some value.

News this morning as Calumet (CLMT) makes a purchase and indicates that high crude oil is having impact on its cash flow numbers for the quarter. Still the stock is up on the day by a small fraction. Martin Midstream (MMLP) ups the distribution for the quarter. The stock is down 54 cents but well off the lows. Elsehwere Atlas Pipeline Partners (APL) and Atlas Holdings (AHD) are down 1 point each. Most of the big cap mlps are down and impacting the index but we are continuing to build off the lows.