CONSTELLATION CUTS PAYOUT!

Sorry for the late first post but im on triple shift with a fried brain. They sat down and did the math and reset the borrowing base for Constellation Energy Partners (CEP) which means a distribution cut. No surprise really but the stock price is getting cut by 30% today anyway. Its under 2.50 now. That is the big corporate headline today. MLPS are higher today with the index up nearly 3 and over 220 again. Looks like we finished the corrective move from 233 down to 210 in a hurry and we are now back in between those levels. The market itself today is mixed to a little lower as of this post.

Amerigas (APU) and Energy Transfer Partners (ETP) are the biggest winners today up 1 point or more. On the losing side just a few mlps are down small fractions. Crude is down but nat gas has turned higher.

There is disturbed weather in the Northwest Carribbean that will head into the Gulf of Mexico this weekend that needs to be watched for tropical storm developement. Just throwing it out there for weekend positions and perhaps for trading next week.