We have the dow down 200 points and mlps up less than 1 point on the index after being higher earlier. Energy is at the forefront today with the deals we have on the table. Kinder Morgan (KMP) is up 2 and change and giving a big lift to the mlp index. El Paso Partners (EPB) is down 3 and change but was down more than 4 earlier. The feeling here is that the KMI-EP deal is not going to be good for El Paso Partners but very good for Kinder Morgan Partners (KMP). And Atlas Holdings (ATLS) is up on its restructuring news. Amerigas (APU) is down on its buying of propane assets from Energy Transfer Partners (ETP).

The market is giving back Friday's gains and then some now that Germany says the dream deal may not be so dreamy. In the end i think we are building up to a big move out of this recent range one way or the other. And it may come after this coming weekend.