Mideast Crisis Takes Center Stage

Bit of a late start this morning since i had to work last night. I guess with all the geo-political stuff going on we're at the mercy of market swings. MLPS are mixed this morning with the AMZ MLP index down 20 cents. Some news on the corporate front as Plains All American raises its distribution a few cents...which is nice. Also Valero GP (VEH) began trading this morning as its ipo priced last night at the low end of the range. Hopefully the death by a thousand cuts that Valero LP has been undergoing comes to an end today as those who shorted this stock ahead of the IPO start to cover postions (we hope!).

I posted charts above and nimble day traders might take a look at Crosstex Energy as in this sell off we could get some very brief buying opportunities below current prices. I would put buy orders 3 or 4 points below the previous days close and play for a 2 point bounce intraday. It usually happens very quickly. This morning for example we had a brief 4 point drop in the first 30 minutes before a bounce back to 88...again for the nimble among you only.

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