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Wednesday, May 20, 2009

Crude near 62 dollars but the overall market has turned lower with the dow down 60 points as we head into the close. The mlp hit 220 intraday and is below it right now. The index is still up nearly 3 points with a few minutes to go into the close.

Only a handful of mlps are down and mostly small fractions except for Spectra Energy Partners down 1.22 on its stock offering. TC Pipelines is up 1.41 on its Transcanada deal and is the biggest winner along with Atlas Energy Resources (ATN).

Financials leading the sell off into the close. Looks like the 8600 level is being a bit difficult to get through.

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