WILD before Open

Well what else is new. This is one CRAZY market, last night we were getting killed on the futures now we are up huge because the ADP report wasn't as bad as expected.

Geez I have no idea what is going on with all this wild movement. Then there is the BAC news that seem to be misleading in exactly what is needed. We wont know the true story til tomorrow.

BAC news - Stress Test

Rumors out that BAC need 34 billion to sure up its balance sheets according to the stress test. Also the rumor is that 10 of the 19 banks failed the stress test, oh boy.


please read.


http://online.wsj.com/article/SB124147831175584985.html

VIX

Caution here on the long side as the VIX has broken support showing major complacency. Just the kind of thing the shorts look for to bite the late longs in the butt.

Tuesday

I posted this morning but realized it didn't get put up, seem like it was sent to my draft folder. Anyways I was thinking we would get an non eventful day and we sure did. Folks the verdict is in the air as were we are going to go from here but seems liek the bulls are in control for the time being.
Again the full stress test verdict will be out on thursday so we MIGHT i am not sure get another contraction day tomorrow, we will see.

MARKETJEDI

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

900 Prints

S&P 900 here
just 7 weeks ago we were @ 666. What a crazy market

WOOOOOOOOOOOO

Bulls in charge here definitely. Although the volume is low especially friday's which was the lowest since the first of March we are still grinding up.
This is a dangerous place to initial trades with a lot of conflicting signals. My gut tells me they just want to close that gap left from January before they pull us down.