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Friday, June 01, 2012


These are the charts we are looking at this morning just before the open and now we have markets in sell off mode.The employment number is point to recession. The 10 year dropped to 1.44% before the open and the dow opens down about 140 here.

The mlp index is down 3 right now and looking at that 360 level. Brent has broken below 100 dollars for the first time since last fall. So things are looking ugly this morning and we will see whether buyers will appear at some point. Enterprise Products Partners (EPD) got an upgrade but it doesn't matter as the stock is down with all the other mlps.

The dow is sitting right now at 12,220 which means all of the years gains have been wiped out.

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