The gas is coming out of the baloon with the dow down 185 and the buzzards circling around AMR, Bank America, and Morgan Stanley among others. For MLPS the index is now down nearly 6 and near the lows of the day. EV Partners is getting hammered for nearly 7 points and there are lots of major losses of 1 to 2 points across the list. Enterprise (EPD) and Kinder Morgan (KMP) are down fractionally which is why the index isn't off more.

We are at the absolute bottom for the S&P 500 and poised for a breakdown late today.