COLLPASE! PANIC! MELTDOWN!

Or maybe the final capitualtion? We'll see. Interesting morning as we see the JP Morgan takeunder of Bear Stearns at a remarkable 2 bucks a share...a stock that was in the low 60s in the pre market on Friday and actually went up on the first news of the fed rescue. Still for all of this the futures are down 1% at the open. So we have an interesting day ahead for sure.

Boardwalk Partners (BWP) announces a deal with its majority owner who will be provided 700 million bucks which covers the company's cost overruns regarding construction of its pipeline. Its a 5 year convertible and it converts at 30 bucks. Should be bullish for the stock. Breitburn (BBEP) earnings out this morning as well.

I don't have any perils of wisdom to import here as the market is the problem. We all know that well enough. Headlines as they break this morning. I have a funeral to attend this morning as my friends daughter is being buried...killed by a drunk driver.