Energy stocks selling off right now as oil drops over 3 dollars ( for now) and Natural Gas is also down 36 cents and back below 13. MLPS being taken down for the ride as well down 3 points on the mlp index.

Watch 132 on oil...if it breaks this afternoon look for a push at 130 where a break there could mean something more serious. If this co-incides with the stock market weakening this afternoon we could see energy take a beating. If you want to follow the USO the spot is around 107.30.

But then again i've been at this door many times in the last few weeks. Just when it looks like oil is about to crack..back come the buyers. Maybe the china news begins the process of letting the air out this bag.

And speaking of gasbags...Paulsen is pontification...lots of sound and fury...signifying not much.