It took 45 minutes for all of Friday's gains, which undid Thursday's losses, got undone. The dow is down 170 and the nasdaq is down 50 as markets are getting very nervous over Europe and the Euro which has finally started to unravel...about to test 132 which is the October low. If that goes it think you could see the equity sell off really get ugly. MLPS are holding up okay relatively speaking down only 2 points as of this post.

EV Partners (EVEP) is down a little over 1 as the biggest loser. Holly Partners (HEP), Buckeye (BPL) Alliance Resource (AHGP), Plains All American (PAA) and Natural Resource (NRP) are among the mlps losing major fractions. Cheniere Energy (CQP) is among the small list of winners up 50 cents as it signs another big deal on exporting liquid natural gas, this time to India.

Since i started writing this point we have come off a little off the lows but still down 160 on the dow. Its Europe folks and it doesn't look good.