FINANCIALS- Developing News

News developing here after hours that the Obama team is looking into developing a Bad Bank model with the purchase of illiquid assets from the banks. I have no idea how this will develop but this sound like a gateway to Nationalization of the Banks. This could be the bump the bulls need for a multi week rally but who knows. I had been calling for a bounce here and if this plays out as a bounce it will be a multiday-week but will end in the same direction.
I personally would love to see a bounce pan out.

We will see soon enough

FED - New powers

We must remember the FED is not part of the government and giving the FED more powers to save the ailing financial system is asking for trouble. I dont believe we should give the FED anymore power because we will be slave to them in the futures especially when all this money in the system needs to be mopped up with much higher interest rates.
Just another note here folks, the very very rich are loosing money here being long. Yesterday Kirk Kerkorian was cited saying he lived one year too long because he got killed last year. The problem is when you manage so much money it eventually gets too much to be nimble, think about driving a truck compared to driving a car.
Lets we nimble in our investment

Grinding higher

Well we grinding higher as we expecting but it is a grind. Slow and painful but might fire up some short covering over the globex highs

Tuesday

Still think we will grind higher here- Watch the commodity based stocks to see how the perform as they look to be the leaders here on the bounce. Remember today and tomorrow is FEd meeting so we might be in no man's lands but we usually have bullish action into FED decisions.