Take a good look at what has been happening duing this selloff. MLPS have repriced their traditional risk premium with the 10 year yield. And company insiders have used this opportunity to buy shares and in some cases with both hands. Take a look at the insider action at Energy Transfer Partners (ETP) Energy Transfer Equity (ETE) Oneok LP (OKS) E V Partners (EVEP) and several others. The buys are open market purchases which means these guys are putting their money where their mouth is. It certainly is a vote of confidence. Also Louis Navillier who is a stock market letter writer gave a goose to Terra Nitrogen (TNH) which is up nicely in the premarket by 2 points (according to the yahoo message board). In the interests of disclosure I am long the stock as i laddered in during the selloff.

MLPS finished well yesterday as the market rallied late in the day and took us up for the ride. Most MLPS closed near their highs of the day. This morning we are relatively quiet as stock futures are flat but firm. Natural gas continues to implode down another 15 cents. Oil is holding the 70 dollar level but its down another 50 cents as Hurricane Dean did not bring a disruption of supply. No corporate developements and no upgrades or downgrades.

Nice to have a relatively calm day yesterday. Lets see if we can make it 2 for 2.