Lunchtime and after a drop of a point and half the MLP index has climbed back to a small fractional loss of 30 cents. Nustar (NS) Calumet (CLMT) Boardwalk (BWP) Martin Midstream (MMLP) and Kinder Morgan (KMP) are leading the winners list with increases of 50 cents or so each.

On the losers list Williams Partners (WPZ) and Amerigas (APU) showing losses of 75 cents to 1 dollar. Inergy Holdings (NRGP) Quest Partners (QELP) Copano (CPNO) and Penn Virginia Holdings (PVG) are fractional losers.

Overall market down 130 on the dow but MLPS are holding up very well. Unless the market completely falls apart i would look for another MLP rally attempt this afternoon.