ANOTHER KINDER MORGAN STOCK SALE.

Kinder Morgan Partners (KMP) secondaries seem to be about as common as white bread and this one is a 6.5 million share sale. The stock is down 1 and some change in the premarket and will have a negative drag on the mlp index today. Earnings are due out this morning for Magellan Midstream Partners (MMP) and after the close today we have Atlas Pipeline Partners (APL) putting up numbers. The stock has moved back to almost 15 but to go higher from here it needs to resume the payout. That will be key in whether the stock price can go higher. Same goes i think for Crosstex (XTEX,XTXI) which has moved back to almost 12 and 9 respectively. Crosstex earnings are not out until next week.

Stock futures are down this morning by 8 points with dow futures down 60. Crude is lower and so is nat gas. Euro markets are down hard again as its all about the spreading mess from Greece. Think back about a 15 or so months ago in the midst of our market collapse and the talk of abandoning the dollar as the worlds reserve currency and going to the Euro! Since then the Euro has gone from 1.50 to 1.30 and the talk now is whether the currency can survive. Sure our debt is bad..but its far better then everyone elses!