We at the MLP blog like to be optimistic even if it means we go to the well and drink a little bit too much of the Kool aid! That being said some interesting things on the tape this morning.

1. JP Morgan (JPM) which has been a good indicator lately of daily trading trends and the first to turn in either direction is higher.
2. Coal (KOL) is down sharply today
3. We opened up near the lows and we seem to be holding them so far.
4. Potash is down. I know that this last one is simply against all natural law but its off 6 bucks. This sell off ain't over until the big runners finally get hammered. Watching carefully.

MLPS themselves are down with everything else with index off just shy of 2 points and at least 275 seems to be holding so far. Coal mlps are down the hardest at this point.

Crude coming off its highs and the dow is back above 11300. Its desperately trying to bottom in here.