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Wednesday, May 11, 2011

Down 7 points on the mlp index and energy stocks are taking it especially hard today. Crude oil is down 4 dollars and under 100 again. It looks like the top is in short term. Dow is down 150 at this time. Alliance Resource (ARLP) is down 2 and change and is the biggest loser. Oneok (OKS) is down nearly 2. And we have a list of sizable 1 point plus losses.

Fast money seems to be getting out of energy so last week's sell off is certainly not over. Watch the 360 level which is last week's lows.

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