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Wednesday, May 09, 2012


Okay so maybe its overstated but we are approaching 380 on the mlp index after yesterday's multipoint loss we are sitting just above it this morning in a soft overall tape. So we will watch this level carefully. If this goes than it seems 360 would be the next logical stop for the mlp index. This drop is coming with the 10 year yield approaching its record low of last September of 1.71%. We are at 1.80% as  of this posting. That 10 year move down in yield is coming thanks to Europe and its absolutely endless crisis.

This morning we have Markwest (MWE) down 2 points on an equity offering  so thats going to weigh a bit on the mlps index. No other mlp news on the tape this morning and no upgrades or downgrades.

Buckeye Parnters (BPL) has been in the dog house for quite awhile as the chart indicates and it has gotten even uglier in the dog house lately thanks to last week's earnings report which by any measure was messy and from a dcf standpoint was not good. I have a piece on this on  and will post the link as soon as the story hits.

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