LETS TRY THIS AGAIN!

Yesterday's idea that a tradable bottom is in went out the window by lunch time and we closed 100 points down and the mlp index closed down 3 points plus. Futures were much lower this morning but have come back since 8:30 thanks to friendly CPI data and a dead cat bounce in the euro. The market tale is wagging the mlp dog so we will be at the mercy of the swings.

No news and no upgrades or downgrades this morning and no corporate developements. We seem to be in one of those quiet stretches for the group. So lets see what the day brings us. I still think the flash crash low is the climax low and we're probing around in here to get some footing to restart the rally. But the key will be whether Europe and the rest of the world can manage not to descend into a full blown crisis.