Needless to say we got the 20 point bounce in the first hour of trading. The mlp index is up 19 and change and near the highs of the day. Sunoco Logistics (SXL) is up over 6 points as the days biggest winner and this makes sense since it is one of the best performing mlps in the last year. Its not far from its 52 week high even after all the selling. All mlps are up and most have 1 to 2 point gains. None are down at this point.

A bounce is all it is so far and long overdue. The big questions are the fed and the close.