Good Monday Morning! We have big downside action in Natural Gas this morning as evidenced on the chart above with the gap down in overnight trading. Traders reacting to the map below as Ernesto is no longer a threat to the Gulf of Mexico but is a threat to the last days of my vacation...although i'm not convinced yet as some models take the storm east of Florida and offshore. Of course i have a vested interest into what outcome i want!



MLP drivers this morning include a higher buyout price for Kinder Morgan (KMI) as the price is now 107 dollars a share versus the original management led 100 dollar price. When the deal was first announced months ago it gave a one day pop to most MLPS. With the raised bid it could bring another push to the upside today on the view that pipelines are undervalued. No upgrades or downgrades so far this morning and no other news headlines.

Take a look at this thread on the Crosstex LP (XTEX) message board. Apparently someone has come to the conclusion that Crosstex LP is the next Enron. You will note my post in response. Short it...and if you believe in your convictions short heavily. And if you believe his reasoning you could apply it to just about every MLP out there. My point here is i'm not interested in coverting someone who has a pre-determined agenda. If you believe in your agenda...short the stock. I believe in my agenda therefore i'm long.

Heading for the gym for my pre-open workout...will post after the open after I digest the action.