Tuesday, September 30, 2008

Deal on Bailout?

Markets rebounded more than half way back from yesterday's disaster on light volume in the DJIA and average volume in the SP500 and NQ100 futures. Even if yesterday's action turns out to be an exhaustion bottom, traders may have to endure another head fake death dive. Another attempt is being made to pump up the bailout bill with Senate leaders claiming all will end well, while some members of the House say not so fast. Deal or no deal will be the focus for the balance of the week leading up to the unemployment data on Friday.