NAT GAS JUST CAN'T FIND A BOTTOM YET

CROSSTEX LP RAISES ITS DISTRIBUTION

Crosstex LP did not raise its distribution last quarter for the first time and that sent the stock down from 40 to 34. It has been rallying latley on the idea that distribution increases would resume and indeed they have increased the distribution on the LP (XTEX) by a penny. Now its only a penny but the increase may have come sooner than forecast so it might be viewed well by the marketplace. Also the dividend on Crosstex (XTXI) goes up by a penny as well.



Also we have earnigns last night from Sunoco Logistics along with a distribution announcement. So the news backdrop is good this morning for MLPS.

Meanwhile natural gas continues drop another dime this morning or 2% to 5.77. I will point out that one widely used computer model is spinning up some sort of tropical system in the Western Gulf of Mexico in the next 84 hours along with something just east of the Bahamas




Now whether it happens or not remains to be seen but i will monitor the forecast models carefully.Whether this will be enough to stem the selloff remains to be seen. Gas as i type is coming off its morning lows and is down 7 cents around 5.80. At some point this has to rally (i hope)

No upgrades or downgrades to speak of. Stock futures are stronger and 10 year rates are holding at 4.94%.