Boy talk about boring...not much happening at all.

Energy Transfer Partners is down 80 cents but on no news/no unusual volume.

Back to sleep!

Its a watching paint dry morning. No real moves of consequence in any direction. No standouts...no nothing. Appointment only trading so far.

Starting out today with the Northern Borders Partners Chart to nowhere on the daily and its weekly chart that looks like its at a crictical juncture. A close below 47.50 on heavy volume and we could be heading for a big drop.

..this breaking bulletin from CNN...to which i will only say that it is a piece of information so vital that it is beyond imagination that we have survived this long without it.

Its end of quarter day and end of the month of September which feels pretty much like we went nowhere fast. Probably means some volitility. No news in the group so far this morning.

Teppco has been driving me crazy of late. It has underperformed ever since it came in under estimates last July. Now it could be with the end of quarter that this one's being blown out of a few portfolios and the daily chart is pretty sad looking especially compared with other MLPS.

But below is the weekly chart which has a much healthier appearence. So perhaps this one may be one to look at for a nice move to the mid 40s...but i think patience is required

I have brought up some of my favorite MLPS to both buy and hold and ones that can be swing traded (if one is inclined to do so).

Plains All American formed a double top near 48 and now has sold down to a double bottom at 42. (unit sale at 42.25 last week) Today's small spike may be the beginning of another run up to the top of the range.


Crosstex has been in a orderly correction from its spike high at 46. A nice bottom has formed and this one looks ripe for a rally at least to the old high or perhaps new highs before years end.

Atlas Pipeline has been one of the more outstanding performers in the last 2 years and it looks to me like we're on the verge of a breakout above 50 for a run to 55-60 in the next 6-9 months.


Buckeye is one of the ones i am leaning to an upside breakout but i'm not completely sold on it. We need a solid close above 50. Since the group is bullish this one should be pulled along for the ride.


Martin Midstream often trades by appointment only so trading swings are a little more difficult to judge. Recent buyout of a gas company gives this one some distribution upside for next year. The thinness of the trade means it could move up very quickly and then just lay around and do nothing for awhile. Chart says another up move is in order and a breakout close above 35 on volume would mean upper 30s-40 might not be out of the question.


When i can i'll look at some of the laggards. And in the interest of disclosure i am long all these stocks. I am also holding additional shares of Crosstex and Martin which i am swing trading....just in the interest of disclosure and as always no guarantees!!! Do your due-diligence and trade at your own risk!

Oil and Natural Gas Futures remain higher but the overall market tone is firm as is the tone in MLPS. Markwest is off 1 and change..no volume...no news. Everything else in the group is fractionally higher.

Natural Gas Storage report moving the market today as the energy complex is mostly higher. Nat gas sold off on the storage news initially. Bottom line is that supply is very tight and we'll see if this is complicated by another tropical storm for the gulf of mexico if it happens. Satellite loop here.

Mostly mixed fractional moves in either direction. No news i could find of consequence.

Good Morning,
Blogging late this morning because i was waiting for any piece of news...its very quiet so its just the usual noise in price movements. Nothing of real consequence.

Watching the tropics for a depression to form in the northwest carribbean.

Markwest energy adds to the litany of no damage from RITA. Crude up over a dollar on favorable data. And note that a depression may be developing in the central carribbean.

MLPS doing okay this morning. A couple of news items. Hiland Partners has completed its purchase of Hiland LLC. Crosstex Energy (XTEX,XTXI) said no significant damage to its operations from RITA.

The energy complex awaits the data at 10:30am.

Good Morning!

No news this morning as of this time. Energy Transfer Partners is ex distribution today by 50 cents. No upgrades or downgrades so far. Energy complex a little higher this morning waiting for data.

Econobrowser has a rundown on shale oil potential or the lack of it and how the whole thing works. Good read.

Also here is a good read on the cycles in investing and what that means. Long but inciteful.

Plains All American just released headline...No impact from Rita

Watching paint dry activity this afternoon in most MLPS. Enterprise Products Partners says it suffered no damage from RITA.

A reminder...ETP will go ex dividend tomorrow.

Fractional pluses and minuses are scattered throughout the MLP group this morning with no news driving any issue. Energy Transfer got an in-line from Goldman but apparently that was good enough for 50 cents higher so far.

Not much else breaking this morning. The 10 year is behaving so at least that's supportive.

Again...another tropical storm in the gulf of mexico by the weekend.

Good morning.
We all know that Goldman Sachs knows exactly how much a stock will rise or fall in the next year. So Energy Transfer is started at an in-line. (excuse me while i yawn).

Not much happening so far this morning. Crude oil is down slightly and gasoline is up 2 cents. The open approaches!

Thanks to all the posts keeping updated on companies and Rita.

MLPS did quite well today; Crosstex (XTXI) was up 2 and change...1 and change higher for Markwest and Tortoise Energy with lots of solid fractional plusses elsewhere.

Watching for additional after market developements. I can't figure out why Atlas Pipeline hasn't announced its distribution for the quarter. It should be x-dis normally in the next couple of days.

End of quarter coming in a few days...i would think there will be some buying pressure in anything energy...but i've always had a tough time figuring these very short term events and their impacts..if any.

Still think there could be another tropical storm threating to move into the gulf of mexico late in the week.

1. Sunoco Logistics (SXL) says only minimal impact from Rita in at least one terminal. Teppco says its stuff is back on line as well. Magellan Midstream also seems to be a-okay with its operations.
   
   Beware the gulf down the road...another tropical storm may be developing! And the first real blast of autumn air from Canada arrives in the Great Lakes and Northeast late this week...not enough to turn on the heat but a sign of whats coming.
   
   Nice firmness to most MLPS today...OIL is up 84 cents on crude...nat gas is down a dime!

Kinder Morgan says minor damage from Rita. Martin Midstream says no impact.

Markets open...actually MLPS are on the firm side...even the oil and gas stocks while lower are not imploding by any stretch. The silence on the news front is deafening.

BTW in my never to be humble another tropical storm could be looming for the Northwest Caribbean/ Gulf of Mexico later in the week...and still another perhaps later next week. Pattern remains active.

A breaking bulletin from Martin Midstream on RITA impact. They say no signficant impact.

Good morning. Sorry about the no blogging weekend but i needed some time off. Back to normal today.

All signs seem to say some impact from Rita but not devestation. Still the energy complex isn't exactly imploding here as the perception of tight supply regardless of hurricane outcomes remains especially in Natural Gas. And how about this prediction on prices as we head toward winter.

So far no corporate developements.

No breaking news this morning on MLPS. Energy stocks are lower this morning and MLPS for the most part are softer but not overly so. A few fractional pluses here and there but for the most part its in the noise area.

Rita forecast has shifted east of Galveston. Their wind is North which says the hurricane will past east of them...sparing the ship channel of the worst of it.

Markets are trading on every mph and every shift in direction...seatbelts fastened.

Good Morning.
Rita still a formidable Category 4 hurricane...lastest loop ...and latest forecast track from the national hurricane center.

The energy complex is reacting to every change in intensity, every shift in the forecast track so look for more volitility today.

On the corporate side...Plains Pipeline priced its offering at 42.20 last night. I may repurchase this if it drops $1 or more below the offering price. Will watch it today. No other corportate developements so far. Yahoo had an after hours trade on Atlas at 52 and change...3 bucks above the new york close but that looked odd to me. I checked the after hours tape and found no such trade...so my guess is it was a print error of some sort. However I'm still waiting for their distribution announcement since they will go ex-div sometime next week.

On the watch for any news before the open.

I found this link for a computer models prediction on the imapct of rita on oil and gas including the companies exposed. I do not know if this is a complete list but i put it out there for you to interpet. Also this map from rigzone is useful.

Late news from Pacific Pipeline Partners getting approval for the Valero assets they are buying.

Heading into the close. Selloff in oil stocks on the idea that its a category 4 instead of a category 5. Go figure. But it might be indicating that the market may be pricing in the worst case scenario and anything less will be sold.

On the other had except for Atlas Pipeline every MLP i follow is down. One point or more drops in Crosstex (xtxi) Holly partners, Markwest, Tortoise Energy Infrastructure, Copano, and Martin Midstream...fractional losses elsewhere.

Plains All American heading lower...looks like 42.25 or 42 for the stock offering?

Hurricane Rita is going through an eye replacement cycle where the intensity weakens until a new eyewall reforms. It remains to be seen whether it will go back to at cat 5. Not impossible.

MLPS are down across the board with only Atlas Pipeline up on its asset buy. Crosstex and Martin Midstream are down 1 and change each. Most others with fractional losses.

what a category 5 hurricane looks like!!!

Good Morning. Always start the morning with your favorite chart...and you all know what mine is!!!

Rita's track has shifted eastward which means a direct threat to the Galveston Bay and the Houston Ship channel and some of the rigs further east. I would imagine that this has more implications for companies in the MLP space than did Katrina but i will dig around and see what i can find. I would also say the opposite is true..companies that have no hurricane exposure will benefit from an intact infrastructure. CNN says $5.00 gas if Rita hits hard.

Atlas Pipeline should be a big mover today with yesterday's late news of an accretive purchase from OGE....will add 10 to 20 cents to distributions next year. Right now the stock pays 3.08 annual based on the June payout. Lets say it increases the next two payouts by 2 cents per...so by december we're at $3.24 per. If Atlas is saying they could be at 3.44 by dec 2006 than the stock should climb to 55-60 assuming the ten year is stable. Remains a strong buy in my never to be humble opinion. And in the interest of disclosure...i own it.

From a few days ago...another new ipo is coming...and Duke Energy is the company forming it.

The energy complex is sharply higher this morning ( a shocker i know). No other corporate developements. Plains All American should be pricing their offering i would assume today. News when it arrives.

We have an accretive aquistion for ATLAS PIPELINE PARTNERS. Press releases says that this should add 10 to 20 cents to distributions next year. So lets assume APL's current payout at 3.08 annual is raised next year to 3.18-3.28 minimum. And that by the way is based on the June rate. We still are waiting for this quarter and next. To me it says this stock should be selling for mid 50s. Look for a nice gain tomorrow.



Rita becomes not just a category 5 but the third strongest hurricane ever observed in the atlantic basin as measured by pressure (898 mb)...only Allen (892) and Gilbert (885) were lower!

Shale oil in our future? Oil might be expensive enough to make it feasible. Check it out here. And here is an arcticle from Rocky Mountain News about it. Thanks to insta-pundit for the leads!

Latest recon had category 5 winds on Rita. Oil drum has a link to a map of what is in the gulf energy wise. Very useful! And the daily kos has a primer of what all this means and how things work.

XOI and XNG remain firm but off the days best levels.

its a borderline category 5 hurricane. 2 in one year. crude up 95 cents, gasoline up 7 cents and nat gas up 26 cents.

MLPS are not doing much for the most part. Oppenhiemer started PAA at a buy not a neutral as previously posted. They corrected it about 11 am. Plains Pipeline is selling new units in an offering. That is why the price is down. I sold out my position at 43,20. No other news but i am monitoring.

Plains Pipeline is down 1.42 on the oppenheimer neutral. Taking a shot for a swing trade here and bought 1300 shares at 42.75. Looking for grocery money!

Still waiting for recon to get to rita. Oil and gas stocks higher but off the highs..dow down...MLPS flat to higher with just a few exceptions. Ten year yield down sharply.

We're past the open and most oil and gas stocks are higher...MLPS are flat to higher.

In the upgrades and downgrades department those risk takers at Oppenheimer started coverage on Plains All American and Holly Partners with a neutral! Oh boy i'm excited!
No other headlines. Waiting for latest on Rita in one hour.

Good Morning.
We have the energy complex higher as RITA is now at Category 4 headed for the texas coast. I guess its another wild day.

No news that i can see so far but the morning is young!

Sorry for the light blogging today...had to work and had little computer access so i'm playing catch up.

Look for Hurricane Rita to reach category 4 status tomorrow and the threat will be to the texas coast. The question is will it be far enough east to effect and take out refineries rigs and all the rest in west Louisiana (25% of us refinery capacity) or track west up the Houston ship channel and shut off 14 %. Better idea tomorrow but we may not really know until late thursday. One of the evening computer models which is out after the hurricane center advisory time bends the track further northeast between Houston and Port Arthur. But this is one models solution.

Meanwhile Buckeye climbed back to near 48 on unispiring volume....had the feel of an oversold bounce. Markwest up 2 and change on buying gas properties. ATLAS down 1.42 after being up nearly 3 yesterday as it moves with nat gas.

After hours crude and natural gas are higher...unleaded gas has come off its after hours high.

Markwest is the big winner this morning on the asset purchase news...up 2.56! Also seeing a firm tone to MLPS for the first time since the Katrina rally. Could it be that this was a fed led sell off into the meeting...(sell the rumour buy the fact???) Liking the action so far today.

Not quite sure what to make of some interesting trades this morning. Buckeye opens up 80 cents...no news....then Teppco sees an 11,000 share block cross on a 45 cent uptick. Also no news. Both stocks remain sharply higher.

Rita will be upgraded to a hurricane. Special update from the hurricane center.

Good Morning
Waiting for Rita, reconnissiance aircraft is there now to see if its a hurricane. Market impact will continue as it heads across the gulf.

A little corporate news this morning for Markwest as its buying assets from Kerr McGee, El Paso and Valero. Stock has been soft lately. Maybe this was why. Also last night after the close ONEOK agreed to sell its oil and gas assets. This may have implications for Northern Border Partners...Otherwise headlines are few and far between.

Waiting for the fed today to make its move. I'm pretty confused here about the outcome. But why not put a guess out there...raise 25 basis points but change the statement to carefully state that there are pressures developing that they will monitor carefully and respond with appropriate action if needed. (basically they will say nothing and take many words to say it!)

Hope you guys are checking through the peak oil web ring...lots of interesting info. See links at the bottom of the page.

Rita is about to become a hurricane and the oil markets took it from the open and just went nuts...up $4 on crude. Natural Gas soared 15% and Gasoline up 25 cents...what a day!

MLPS are mostly higher. Atlas Pipeline Partners is + 1 with fractional plusses pretty much across the board. ATLAS the parent is up 2.59 to 51 bucks...not bad from a 20 dollar ipo a year ago!

Rita will be in the Gulf of Mexico tomorrow and headed for major hurricane status. If we take out the refineries in texas this time....we could see $4-5 dollar gasoline at the pumps!

Teppco had a fire in Ohio...one person killed. No other corporate news today...its oil and gas and sell everything else.

Crude is surging +3.50 as of this posting and a huge jump of 1.33 in Nat Gas which is over 10% move so far. Gasoline at 1.97.

MLPS are mostly higher but not exactly burning down the barn door. Atlas Pipeline is + 65 cents...we should be hearing about the next distribution any day now.

Rita Strengthening and hurricane warnings extended slightly northward. Also the forecast track increases the threat for northeast Texas Coast.

Good morning.

No corporate developements this morning so far so the focus will be crude/natgas/gasoline, the hurricane threat in the Gulf Of Mexico and the fed meeting.

As to Rita...no question in my meteoroligical mind that we will have a major hurricane in the Gulf of Mexico. Many of the long range computer models have shifted eastward and in my view it means there is a real threat again to the oil and gas refineries along the Texas Coast and it is not even out of the question that New Orleans could get hit again. But this is speculation. The official hurricane forecast takes it to the northwest gulf but points out the shift eastward.

Crude is up sharply this morning as is natural gas. I think once Rita becomes a hurricane and begins to move into the Gulf Of Mexico we could see runs back to the Katrina Highs; particularly if there is a real threat to the untouched refineries in Texas. Of course with oil up you can bet that the 10 year yield will begin to rally in price/drop in yield. I think this will put support under MLPS and they should rally. Here is the link to my favorite chart!

Finally this morning scroll down to the bottom of the page and you will notice that i have linked to the Peak Oil Web Ring. You now have a gateway to many excellent blogs about Peak Oil and other energy related concepts. Please feel free to comment about blogs you discover on the ring and i will add them to the permalinks on the side.

Blogging late (or early depending on ones point of view)

Tropical Storm Rita heading west toward Southernmost Florida or the keys and then forecast to cross the Gulf Of Mexico and could threaten the Texas Coast (as a major hurricane)and its refineries later this week. Oil futures and Nat Gas opened sharply higher in Sunday night electronic trading. Check side links for latest prices.

Will blog again before the open. Should be an interesting week with all this and the fed too!

Cactus Jack is pontificating on the Northern Borders Message Board about what 2007 will be like...Hopefully we all have lots of wood to burn! And while it is an entertaining piece of writing; one can envision the possibility!

Meanwhile Tropical Depression 18 is showing signs of organization. This will eventually wind up in the Gulf Of Mexico. And i predict the markets will go nuts on the prospect. Bear in mind the map on the link is a forecast...and the range for error 120 hrs out is wide.

Not often do i post on a Sunday at midnight but there is the threat for another hurricane and possibly a major hurricane in the Gulf Of Mexico this coming week. Assuming this new depression intensifies to a tropical storm Sunday...you can be sure this will send oil and gas prices soaring on Monday. The weather patterns aloft might send this one further west and threat perhaps the Texas Refineries. Its a little early but you can bet that it will be on the minds of traders. Do i hear 4 dollar a gallon gas??

Good Afternoon...i've been slow on the take since i had to work an overnight shift and am a bit woosey...still the trading goes on. And that link between oil and bond prices continues/ both are down in price (yield sharply higher) which continues to pressure our MLP stocks. Markwest energy is down 1.42 but no news. Sunoco Logistics is up 53 cents...no news either.
The rest of the group showing fractional pluses and minuses. Buckeye Partners is soft again today. Its been going down since Merrill Lynch put a buy on it a few weeks ago.

If you think back to july i thought this group would correct and they did in the beginning of August on the first spike of the 10 year. I believe that correction has resumed or perhaps it just has continued...with Katrina being a one week contra-trend rally. I am guessing since we are now 1/2 past the last ex-dis dates we should bottom soon and start a rally back to new highs. The one caveat here is the 10 year yield and that it stays below 4.50.

Good morning!!!

No news to speak of this morning other than a Deutche Bank upgrades EXXON. Having a raging political with my dear sweet niave liberal friend cliff...so will keep it short until news breaks....or if Cliff puts price controls on the oil and gas industry!

Another soft day for MLPS. Crude is down...the 10 year is up in yield down in price...the pressure is on. Pacific Pipeline sold some notes today and got their ratings re-affirmed. Buckeye Partners down 1 on no news. Most are down fractionally.

Waiting for Atlas Pipeline to raise its distribution.

Another soft day for MLPS. Crude is down...the 10 year is up...the pressure is on. Pacific Pipeline sold some notes today and got their ratings re-affirmed. Buckeye Partners down 1 on no news. Most are down fractionally.

Waiting for Atlas Pipeline to raise its distribution.

Good Morning MLP INVESTORS!

If you are a Copano holder you might be interested in this Bank of America Investor Conference.

Regency Partners filed its IPO. It will be trading publicly soon. Global Partners (GLP) set its price today.

So begins another day of trading with stock futures a little higher and crude is up this morning. Ten year rates are down. Inergy priced its big offering last night. No other news/upgrades or downgrades at least so far.

Atlas Pipeline Partners should be announcing their distribution for the quarter any day now. Looking for another increase.

Good Morning MLP INVESTORS!

If you are a Copano holder you might be interested in this Bank of America Investor Conference.

Regency Partners filed its IPO. It will be trading publicly soon. Global Partners (GLP) set its price today.

So begins another day of trading with stock futures a little higher and crude is up this morning. Inergy priced its big offering last night. No other news/upgrades or downgrades at least so far.

Crude up 2 dollars this afternoon and most mlps are flat on uninspired volume. Hiland Partners up 3 on a AG EDWARDS reinterating a buy. Otherwise no corportate news.

Quiet open with a few standouts. Hiland Partners continues to rally on its buy of its affiliate and a projection of a 2.50 annual distribution. Stock + 1.62. Copano is + 1.02 on thin volume. Fractional plusses seem to cover the rest of the group. One or two stocks down pennies.

XOI and XNG up this morning. Inventory numbers will probably control the trade in the energy complex all day.

Good morning,
Its oil inventory day...at 10:30 we'll see what it means. No breaking news this morning so far. Energy us up this morning above 63 dollars.

MLPS have been on the soft side lately...we're 6 weeks from the past ex dis dates which means we're 6 weeks from the next set of distributions except for Energy Transfer and Atlas Pipeline which go ex-dis at the end of the month/beginning of october. Atlas Pipeline should be announcing its distribution for this quarter any day now.

No upgrades or downgrades at this time.

Not much of a close; most mlps closed closer to their lows of the day of the day then their highs, Not much after market news, although Crosstex (xtex) is registering to sell 1.5 million units from holders from time to time. Crude closed higher...as did the 10 year.

Will monitor for late breaking news.

Lunchtime...crude is up and down...higher at this writing by a dime. Nat gas down 15 cents. MLPS under pressure again. None of it news driven as i can see. Energy Transfer is down 90 cents...Crosstex (XTXI) down over 2...Crosstex (XTEX) is flat. Holly Partners is down 85 cents. Hiland adds another 62 cents to yesterdays 1+ gain on its merger with its GP to make an LLC..or something like that.

Small fractional moves dominate the rest of the group...mainly softer from yesterday.

Some news from last night...INERGY L.P (NRGY) is selling 5 million units. Look for some downside today. Here is the prospectus

Good morning.

Crude is up this morning so the 10 year rate is down. This is a 60 minute chart of the 10 year vs crude and you will notice that the two are in lock step right now. On the daily chart this link was established when Crude Oil broke above 63 dollars a barrel back in early August and they have been in lock step ever since. What the bond market may be telling us is the impact on the economy begins at the magic price of 63 dollars. 10 year yields and oil will move in lock step until or if oil breaks below 63. Under 63 dollars may be the trigger point for the fed to say its safe to keep raising rates because there will be no impact from high oil (under 63). As for what this means to MLPS i'm not sure. High oil and low 10 year rates would be supportive to prices but i would think that at some point too high crude and gas will have an impact on demand...the circular argument continues...However i do think it is important to recognize that bond and oil are holding hands right now as the skip up the hill. The question is whether its jack or jill or both that come tumbling down?

No corporate news or upgrades/downgrades so far but the day is young!

Good morning.

Crude is up this morning so the 10 year rate is down. This is a 60 minute chart of the 10 year vs crude and you will notice that the two are in lock step right now. On the daily chart this link was established when Crude Oil broke above 63 dollars a barrel back in early August and they have been in lock step ever since. What the bond market may be telling us is the impact on the economy begins at the magic price of 63 dollars. 10 year yields and oil will move in lock step until or if oil breaks below 63. Under 63 dollars may be the trigger point for the fed to say its safe to keep raising rates because there will be no impact from high oil (under 63). As for what this means to MLPS i'm not sure. High oil and low 10 year rates would be supportive to prices but i would think that at some point too high crude and gas will have an impact on demand...the circular argument continues...However i do think it is important to recognize that bond and oil are holding hands right now as the skip up the hill. The question is whether its jack or jill or both that come tumbling down?

No corporate news or upgrades/downgrades so far but the day is young!

No after market developements so far as i can see after a mostly down session for MLPs. A few exceptions includ Hiland LP which was +1 and change after annoucing a merger with its GP to become an LLC (not a member of the FDIC AND SIPIC!). and raising the distribution to 2.35 annual or nearly 59 cents a share from the current 45 cents per qtr. Seems to me that fair value for this grower (5 % yield which is higher than the yield was before today's action) would put fair value around 46 per share. COPANO soared from 29 to 41 when it bought Scissortail and raised its distribution to a minimum of 2 bucks...but i guess buying another company is being valued higher than merging with your GP. But from a distribution standpoint this stock looks cheap in my never to be humble opinion.

Buckeye also bucked the trend today up nearly 60 cents...no news to speak of.

Afternoon changes in the corporate office at Crosstex.

Also Northern Border Partners is moving ahead with Chicago III (the pipeline...not the album!).

MLPS mostly lower but off the lows.

Big selloff in oil and gas stocks today among the big boys. MLPS under pressure as well but not nearly as much; mainly because they didn't really rally much last week. Note by the way the strengthening of the inverse relationship between crude oil and the 10 year. Yields have been rising as crude falls and visa/versa. Since MLPS and the 10 year yields are tied together the relationship should be watched carefully. No other breaking news at this time.

Crosstex says no impact from Katrina...there was some speculation on the yahoo boards about this....rest easy folks!

Hiland is + 1.82 as it plans to raise its distribution to a minimum of 2.35. To me at a 5 % yield should take this to 46 dollars. I guess it doesn't get there immediately.

Most MLPS are slightly lower this morning...no big news to speak of

Here is a new one....Hiland Partners LP is buying its GP...and will increase its distribution to a minmum of 2.35 a unit!!

I'm celebrating!

Good morning.

Pretty quiet this morning; not much happening in corporate news at least so far and no big moves one way or the other in the energy complex. But the day is young!

No upgrades or downgrades so far either.

Hi everybody.

Crude closed down on the day as did gasoline and nat gas but the oil index and the nat gas index closed at new highs. And so it goes. Looks like the MLPS for the most part marked time today as the money flowed into the big boys...we'll see what next week brings.

A G EDWARDS also upgraded Martin Midstream today with Key Banc and McDonalds (not the fast food chain ) on the Prism aquisiution. Stock was up 1 and change.

Crosstex (XTXI) in a Forbes piece on possible short squeeze candidates. The arctice is short and was from 10 days ago...but worth a look. A few insider sales showed up today in XTXI. The amounts sold were small and the sellers still hold large positions. They probably have a boat or house payment to make.

Not

Hi everybody.

Crude closed down on the day as did gasoline and nat gas but the oil index and the nat gas index closed at new highs. And so it goes. Looks like the MLPS for the most part marked time today as the money flowed into the big boys...we'll see what next week brings.

A G EDWARDS also upgraded Martin Midstream today with Key Banc and McDonalds (not the fast food chain ) on the Prism aquisiution. Stock was up 1 and change.

Crosstex (XTXI) in a Forbes piece on possible short squeeze candidates. The arctice is short and was from 10 days ago...but worth a look. A few insider sales showed up today in XTXI. The amounts sold were small and the sellers still hold large positions. They probably have a boat or house payment to make.

Nor

Hi everybody.

Crude closed down on the day as did gasoline and nat gas but the oil index and the nat gas index closed at new highs. And so it goes. Looks like the MLPS for the most part marked time today as the money flowed into the big boys...we'll see what next week brings.

A G EDWARDS also upgraded Martin Midstream today with Key Banc and McDonalds (not the fast food chain ) on the Prism aquisiution. Stock was up 1 and change.

Crosstex (XTXI) in a Forbes piece on possible short squeeze candidates. The arctice is short and was from 10 days ago...but worth a look. A few insider sales showed up today in XTXI. The amounts sold were small and the sellers still hold large positions. They probably have a boat or house payment to make.

Not much other breaking news tonight. Its a weekend and if you're in the northeast the weather will be beautiful! Enjoy it. I will be monitoring the net this weekend for relevant news arcticles and will post from time to time.

XOI is soaring 17 points today with another breakout . The chart is very bullish. MLPS seem to be mostly in a holding pattern with just the ones with upgrades moving (MMLP).

Ten year hit the trendline and yield is back down again today.

Opening prices were higher but not by much. Martin Midstream is up 1 and change on the key bank upgrade to buy from hold. Otherwise there is not much news this morning. XOI is +10 as the chart still is bullish. XNG is +4.

Martin Midstream Partners (MMLP) just got upgraded by Key Banc from hold to a buy.

Good Morning!!!

Wachovia starts Inergy Holdings (NGRP) at an outperform. That is the only news i see so far on this Friday.

There is a new energy IPO LINN ENERGY thats coming out and Forbes has a profile.

Pacific Pipeline priced 4.5 million units at 32 bucks. That should cap the upside for awhile.

Crude and Natural Gas are both up this morning. I tend to think we should retest the recent highs over the next few weeks as the full extent of the shortage (if any) becomes known. That plus when winter demand comes into the midset of the traders (if it hasn't already) From the standpoint of tropical weather...looks like the southwest gulf activity is now a non factor. Ophelia is a threat eventually to the southeast coast of the U.S. so we have no added pressures on oil and gas.

Crosstex Energy LP dropped nearly 3 points but then got almost all of that back by the close on abnormally high volume. The bottom was at the prior breakout on the chart at the 37 level. Some speculation on the XTEX message boards about Katrina impact.Company has been silent on this so far.

Crosstex rallying back to down only 50 cents.

Most MLPS are down today with a few exceptions. Among the hardest hit is Crosstex (XTEX) down 2 and change on 50k shares. It seems to be acting like some stock may be coming up for sale in an offering..just a guess here. Looks like my swing trade is a bust but i don't mind holding. Also on the losing side today is ATLS the parent of APL...down 1 +, APL down 40 cents. Most losers down fractions...while Holly Partners is up 50 cents to the 45 level.

XOI is now +1 and XNG +2. No additional news so far today

Holly Partners is back near a 52 week high...up 1 this morning. Crosstex in an area where it should bottom (XTEX) down a fraction but off its low. Otherwise its small moves in either direction on uneventful volume.

Energy Complex waiting for weekly numbers.

Good morning.

Crude is up this morning along with gasoline and nat gas.

Some corporate news to catch up on. Kinder Morgan says 7 of 9 terminals are back up. Awaiting electricity on the other 2.

Amerigas prices an offering yesterday for 2 million plus units.

Ramifications of Katrina...Rigzone has an arcticle about drilling off Florida. Seems like the hurricane reopens the debate on offshore drilling. Also from econobrowser is a piece on oil capacity. Interesting read.

In the interest of disclosure i took a trading position in Crosstex yesterday and Hiland Partners as well. This is swing trade for lunch money.

Ophelia stalled off florida east coast...could be lingering for days. Also disturbed weather in the southwest gulf of mexico is becoming better organized.

There has been this ongoing debate on whether greenjeans should raise rates at the next meeting or pause due to the hurricane. I suggest that perhaps the fed will do both...that is tighten another 25 basis points and then in its statement say its going to stop raising rates for awhile in order to access the impact of Katrina. Seems to me this should make everybody happy. Ten year rallying this morning with the 10 year yield down to 4.11. Ten yields backed up to the 34 day moving average where it hit resistance. Downtrend intact.

Except for one or two odd gainers...Valero being one of them; most LPS are down today with some losing a point or more. Ten year rates are climbing again and the energy complex is down with crude down 2 bucks. All makes for some selling.


Crosstex Energys is down 2 bucks on the LP and 1 and change on the GP. Atlas Pipeline Partners also down about 1. No additional news breaking this afternoon.

Most mlps are softer this morning. PPX is down 1.25 on the dilution of new units...otherwise its fractional losses. No other corporate news so far.

Good Morning.

Some coportate developments since yesterday afternoon. Pacific Products Partners is selling more shares.

Martin Midstream is buying Prism Gas Systems for 100 million and it will add 10 million EBTDA.

Buckeye Partners sold off yesterday. The only news was a SEC filing of an insider stock sale of 3500 shares by Eric Gufstason. Open market purchases are almost always a good sign...sales are much harder to read. Since does not come at a new low for the stock I would view it as insignificant.

A new tropical storm has formed though this one may eventually be a threat to the US southeast coast down the road.

Crude oil is slightly lower this morning; unleaded gas is higher. On the watch for pre open developments.

New Depression forms and forecast to become tropical storm and drift northward along the east coast of florida.

Waiting to see if the hurricane center makes the system off the se florida coast a tropical depression. Based on Radar and local observations it is very close. Watch the energy complex reaction if it is.

Most MLPS softer this morning but not by to much. Atlas Pipeline had a 9800 share block move on the third trade of the day...50 cents below the prior trade so the stock has been under pressure since. Buckeye continues higher off of Merrill Lynch restart at a buy on friday.

Good Morning.

Get ready for some volitility this week in energy again. A new tropical depression is forming off the florida southeast coast. If a tropical storm or hurricane moves into the gulf of mexico (i'm only being theorectical here) i'll bet you'll see some spikes in the energy complex again. Tropical Storm Nate and Hurricane Maria are factors only in the shipping lanes.

Corporate news this morning as Energy Transfer's parent files an IPO. No other news has broken so far but the morning is young.

After being down over $1 most the night...crude is rallying back to the flat line and natural gas is higher this morning.

Will post as necessary!

Happy Sunday. I saw my house in New Orleans on a satellite photo and it was completely intact and unflooded. Very lucky!

There were a few links that needed to be updated. Oil drum and Future Young Millionaires. They are now repaired.

Trying to take things slow this holiday weekend since i am working my regular job right through next sunday. So I will update the blog with the latest sometime Monday.

Joe

Some solid gains today ahead of the holiday weekend. Some of the laggards played a little catch up today like Sunoco Logistics (SXL) which pierced through 40. Buckeye Partners nearing a 52 week high after Merrill Lynch restarted coverage this morning around 10:30 am with a buy. Hiland Partners was +1 on thin trade and fractional pluses in many issues. Holly Partners was a big winner today up 1.85. They filed a shelf registration after the close for 800 million. No link available yet.

Another fractional winner today was Enterprise Product Partners, Merrill Lynch reinterated a buy but news of flooded gas plants gave pause to some holders (so they sold!). On dow jones EPD says the gas plants may be out for 3 weeks. Teppco Partners spent another day doing nothing. They have become a bit of a laggard here.

So now its a holiday weekend. Please try and rest up these next 3 days...enjoy yourselves. Remember the folks in New Orleans and Mississippi both in your hearts and with your wallets!

Breaking news on Buckeye. MERRILL LYNCH restarts coverage on the stock with a buy recommendation.

Good Morning.

First and foremost...I have refrained from saying anything about this because frankly i am not comfortable asking people to give money. I live in NY but i lived in New Orleans many years ago.I still own a home there and i have no idea if its even still there. It is a wonderful city with wonderful people. They are suffering greatly through this disaster. I am donating part of my trading profits this week to Catholic Charities and i am doing it through my church. I chose them because almost all the money goes to aid and very little to administration. Please find it in your hearts to give something to the charity of your choice to help these people who are in desperate need. Thank You very much.

And now to Friday Blogging!

We've all heard over the years about an oil supply from shale but the problem was that it was too expensive to extract relative to the price of crude. Well that may no longer be the case.

Energy Transfer Partners raises its distribution to 50 cents or $2.00 annual. No other corporate news this morning and while this is a Friday before a holiday weekend the post hurricane trading continues so we'll be watching for developements.

Crude, Nat Gas and Gasoline futures are down a little so far.

After the market close...Martin Midstream buys a Delaware terminal.

Closed...XOI rose an astounding 37 points! The chart is going parabolic here. Word of some refineries coming back on line. Valero says its St Charles Parish refinery is back on line. Gasoline is over 3 bucks everywhere and over 5 in parts of Georgia! Amazing!

MLPS were mostly higher...Martin Midstream up 2 and change while most closed with nice fractional plusses. Teppco continues to annoy me; opening higher in the morning and then selling off although today it actually rose into the close. Chart looks like a head and shoulders bottom so perhaps TPP can join the party.

My portfolio is +6% in one day! Not a bad day's work. Took the time to lighten up on a few positions and add to others. But the XOI & XNG are off their highs but above their opening levels. XOM +2 at times and some nice moves today in MLPS..MARTIN MIDSTREAM up 1.86, most are up nice fractions. Northern Borders however is down half a buck and there are minus signs here and there. Nothing is being driven by individual corporate news.

Waiting for the close. Adding to Crosstex; got a 1/2 fill at 41.33

Energy stocks trading in the stratosphere today....big moves...XOM +1.61, Valero + 3 and change. MLPS are mostly higher except for some of the thin ones which are resting after moves from weeks ago like XTEX and CPNO.

Crude flat but volatile today...gasoline higher...nat gas higher.

The whole energy complex is higher this morning and MLPs which are more sedate showing fractional pluses for the most part. Valero LP adding to yesterday's gain and its parent Valero IS +5. Copano and Hiland are down .50 apiece but on the usual thin trade. Martin Midstream is up sharply after selling off the last few days...+ 1.70

Gasoline is up 17 cents and crude is only pennies higher but things will change quickly.

Will be blogging more today.

Joe

Good morning.

Lehman brothers ups the refiners this morning (gee you think they see something????) So Valero should be up and maybe the LP as well. Its more of the same with hurricane related news and pressures on the market this morning. XOI & XNG charts broke out to new highs yesterday so the ride continues.

Rigzone has a piece today on 15 dollar nat gas. Freakonmics has a copy of an email you might be getting about a 1 day boycott of buying gasoline to punish those evil oil companies who are obviously taking advantage of supply and demand factors to take all our money. I get into arguements with disingenious upper westside mostly white liberals about this and point out to them that if that really were the case( and it isn't)...nothing stops any of you in investing in the oil and gas industry. At the very least the gains in value more than offset the product you use. Usually that shuts them up.

The NY TIMES has a piece this morning on refineries and their problems. This is going to a mess for awhile buying gasoline. Yesterday on my drive down New Jersey i paid $2.59 in the morning and at the same station $2.89 in the afternoon. And the discounters who buy on the spot market now have higher prices than the chains! New York price near me was $3.39

Enterprise Products Partners reports minimal damage to its facilities.