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Friday, October 14, 2011


Just a quick post here as i have a wedding this afternoon (not mine). MLPS are up over 3 points today with nice gains on the board in most issues. The overall market opened up sharply by 130 points. Since the open we've seen sellers lean into the tape. The dow is now up just 60. More importantly the bank stocks are all lower after a higher open. European banks sold off in the last hour of their trading. We hit the absolute top of the recent range. And while price at the end of the day is the most important thing (dow up 1200 points from low tick to high tick in 9 trading days) the volume has been absolutely non existent. So unless something big comes out of this weekend's meeting, i think the reality sets in that Europe is not going to come up with something the markets will be happy with. And in this casino we can be back at 10,400 just as fast as we came up from there.

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