TIME FOR AN OFFERING!

Two of the bigger mlps will have an impact on the mlp index today as Oneok (OKS) and Sunoco Logistics (SXL) are going to the market well to get some money by selling equity. And when your mlp has enjoyed a big move its best to take advantage of your currency. Oneok (OKS) is doing a 5 million share offering while Sunoco Logistics (SXL) is doing a 2.2 million share offering. Both mlps are down over 2 dollars in the premarket so that is going to be coming out of the mlp index at the open. Yesterday the index closed up 5 points which reversed most of last Friday's selloff.

Not much else on the tape this morning as markets are looking at a slightly higher open. Energy is up with oil back over 75 bucks. Nat gas is up a nickle as wintertime continues in the east with no break in site and a couple of snowstorm threats looming. Barclays is downgrading K-Sea (KSP) to equal weight after last week's negative distirbution announcement.

Not much else on the screen this morning. We're still running through the payout cycle so more mlps go ex-distribution in the next few days. Checks will be in the mail shortly.