MORE EARNINGS AHEAD OF THE OPEN

News items dominate this morning as Gensis Energy (GEL) is buying up assets from Valero (VLO) as the big deal of the morning for 330 million in cash. Boardwalk Partners (BWP) announces earnings this morning that show nice increases in distributable cash flow and they also raise the distribution. I love those 1/2 cent payouts. Earnings are due out shortly from Nustar (NS,NSH) and conference calls all follow later this morning.

Stock futures ahead of the open are nicely higher and it appears we will be back on the door of 11,200 on the dow and mlps should open up higher as well. Bernake speaks at 8:30am so we'll see what he is up to. The G-20 meeting over the weekend did no harm. Crude is up and nat gas continues is circling of the drain as it heads to zero. Rates are lower ahead of the open and fed speak.

Some other items...this piece was interesting about the impact of bundling MLPS into ETFS...and the conclusion is not a pretty one if things go wrong. Frankly there is nothing shocking here. If ETFs cause a bubble to form in the group, then yes it makes them a ticking time bomb. But so is everything else for that matter. Hell judging from the ETF volume they pretty much trade by appointment only anyway. And Seeking Alpha has its 3 favorite mlps and also talks about the changing landscape and its impacts.