A SPECIAL REBALANCING!

You have to love it when a simple rebalancing of a stock index is called "special" meaning this has extra meaning to our lives i suppose...but out goes WMZ (Willams Partners ) which is being combined with Williams Partners (WPZ) and in goes Vanguard Natural Resources (VNR). For details on the weightings and all the rest of that sort of info head for the Alerian website. All of this takes effect this afternoon at the close.

Markets opened lower this morning and went below 10000 again and that held so now we're up on the Dow. The mlp index is down but off its lows off about half a buck. Winners and losers are split pretty much down the middle..50-50 and the moves so far are between minus 50 cents and plus 50 cents. The vast majority of mlps are within a few pennies of unchanged. No corporate drivers this morning on the news front and no upgrades or downgrades either. Crosstex (XTEX) and Crosstex (XTXI) are both up about 25 cents which is a nice move on a percentage basis. No news there.

Hurricane Earl will be threading the needle along the east coast Thursday and Friday and it looks like a near miss for the big cities. Eastern Long Island and Cape Cod may get a bit of a closer brush. All the latest from the National Hurricane Center.