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Wednesday, November 10, 2010


Buckeye (BPL) has gone parabolic here after being up 3 yesterday, its up another 1 and change plus its ex distribution by 97 cents. Not sure if its anything other than Citigroup raising its target to 65 from 56 and keeping it a hold. Volume spiked yesterday as some wanted to catch the payout. 200k shares have changed hands so far today.

The mlp index was down nearly 5 but now its down a little over 2 points. Kinder Morgan is down 83 cents plus we have Enbridge (EEP) down 2 on the stock offering and they are the primary drags today. Crosstex Energy (XTXI) is up 52 cents or 6% today. No news there other than presenting at the Bank America investment conference next week. Nustar Holdings (NSH) Markwest (MWE) and the Atlas's (APL,AHD) all showing fractional gains.

Market sold off this morning and then rallied back. Looks like that might be running out of steam. 30 year auction results at 1pm. Bonds selling off into that number so they maybe all sold ahead of the outcome which last time was not good.

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