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Wednesday, October 26, 2011


If you want to follow what is going on at the European Summit click here for a live blog thanks to the Financial Times of London (registration required by FT). You really get a good sense of what is really happening there by reporters in Brussells and Berlin. And notice btw that we won't know anything until the press conference which of course is after dinner. Honestly these people would make a great circus.

Some news for Cheniere Energy (LNG) which is up 3 dollars or over 50% as they sign a big deal with BG Group. Don't have a news link but its a 410 million dollar LNG deal. That 2 dollar move is a 33% gain. Also this morning we have RBC raising the target on Sunoco Logistics (SXL) to 108 bucks. No pre market trading there. No other news on the tape and no other upgrades or downgrades. Stock futures are higher and in that pre Europe press conference holding pattern. Crude is now down on the morning after ticking higher. Interest rates are flat and gold is a little higher.

My guess is not much happens until we get the Euro outcome and unless we get some sort of mega deal, the market sells off on the news.

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