THROW IN THE TOWEL DAY?

Feels like we may be at the beginning of some sort of capitulation.

The MLP index may have had its capitulation last week. God knows i hope that is the case. Meanwhile the dow is setting up this morning with stock futures down 15 points on the S&P. The VIX closed at 28 and change yesterday and should open close to 30 or higher this morning with any look signalling that fear may be fear and perhaps from that, a bottom can form. But it certainly has been very painful to watch.

Many were openly wondering for the last several days why Energy Transfer Partners (ETP) got no upside from a distribution increase, good earnings, and a guidance boost. Now we know why as they do a stock offering. Nor did we get any upside from Plains (PAA) and Regency (RGNC) when they did similar announces on guidance and distribution. Its the world we live in these days. Energy Transfer (ETP) has a few trades down 1 in the pre market.

Nothing on the upgrade downgrade list this morning but it wouldn't matter anyway. No other corporate developements this morning. Lets get the open out of the way and go from there.