Yea Frank, it might be there. But I'm gonna guess a little further south than you based on the GOES loop and lookng at the stills from the Cancun radar and say near 22.2/87.7.

Looking at the zoomed in shot from the NASA site (thank you NASA) you can see the lower cloud elements moving NW off the eastern Yucatan and heading to the south on the north side of the Yucatan just west of where the center might be. The latest Cancun surface winds were out of the southeast which would generally fit in ths scenaro. One thing is for sure, this is a very small system right now.

Also currently seems to be moving more west than anything. There was a strong hurricane a few years ago (I forget the name) that moved in a simular fashion and was eventually pulled inland in the same area. Somebody, I think it was Joe Bastardi had an explanation for this but just as I have forgotten the name of the storm I also have forgotten why it moved inland there. If anyone remembers maybe they can refresh my memory. Maybe something to do with the friction of land causing the storm to be pulled that way. Could be the same case here and it won't turn back to the NW unti it moves away from the Yucatan. I guess also the shear could be pushing the convection more westward as the center moves more WNW or NW.

A new area of convection is currently building north of the possible center so if it is on the northern edge, it shouldn't be exposed for long.