NAT GAS MAY (FINALLY) BE OFF THE MAT

Checking the UNG chart it is clear we are finally bouncing after a long hard hideous decline. And make no mistake this is nothing but a bounce so far. But there is a ton of headroom and Natgas as proxied by UNG has a right to get back to the low 14's under ideal conditions. Btw since the announcement late last Friday of new shares coming to market the premium to NAV has shrunk to about 6% which is far more acceptable. I would expect that the shrink further in coming days. We still have that CFTC ruling that looms in the background. But ultimately its about nat gas. Nat gas is nicely higher pre open this morning adding to gains to yesterday's rally. And it was very good to see nat gas close yesterday higher than it did last Thursday, which was the first bounce off the low.


As nat gas rallies it could be the new catylist for MLPS which appear to want to at least challenge the recent high around 250. Technicals on the MLP chart are shouting buy again in here so with the wind at our backs the path of least resistence is higher.

Ladenburg Thalman is busy this morning and is issuing buy ratings on Enterprise Products Partners (EPD) Quicksilver Gas Services (KGS) and Boardwalk Partners (BWP). This should give those issues a little goose at the open. No other corporate developements this morning. Crude is a little higher and stock futures are flat to slightly higher.