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Tuesday, May 24, 2011

The 4 point opening gain disappeared in a big hurry and we are up but a small fraction right now. Most mlps are well off their highs but most are showing gains..although there is nothing special on the tape right now.

El Paso (EP) is planning to separate itself into 2 companies and that might have long term implications for El Paso Pipeline Partners (EPB) though today the LP is down a small fraction. This should help them (EP) in the ability to raise capital for the LP as per the press release. It will be a tax free spin off.

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