Well considering today is going...the MLP index is down 1 and change...not bad with the XOI down 40+pts or 3% and the XNG down 3% or 15 points. Still the losers list is growing a bit and winners are paring their gains somewhat. Nat gas dropped to 5.80 and is back to near 5.90. Is it the bottom? I will say this. I heard someone on CNBC say that traders in the natgas market were selling because of the lack of hurricane activity. Well anyone who was long natgas on the idea that a major hurricane was going to be in the gulf of mexico during the month of July deserves to lose money. Statistically July 1-20 is one of the least active periods historically...and even less active than the month of June. Its only a matter of time before something happens in the atlantic basin and i think hurricane activity has been factored out of prices.

Peter Eliades is on CNBC predicting the end of the world...or something! Broken clocks as always are right twice a day...useless the rest of the time.