The supply glut from the shale drilling bonanza meant that October was another record-setting month for U.S. natural gas production from the Lower 48 states.

December E-mini S&Ps (ESZ14 -0.35%) this morning are down -0.33% and European stocks are down -0.44% as Amazon.com dropped 10% in pre-market trading after lowering Q4 revenue guidance .

With monthly natural gas output reaching new highs regularly, prices continue to suffer.

The average large cap stock is trading -9.1% below its 52 week high, 3.7% above its 200 dma, has 4.49 days to cover held short, and is expected to post EPS growth of 13.5% next year.

Since 2010, the top scoring stocks in our weekly large cap report have returned an average 363 bps of excess to the SPX in the following year.