The Sell Vote

Stock indexes continue to reflect liquidation of hedge funds, mutual funds, and individual stock positions as the market seems unsure of all that has been done thus far to settle world financial markets. The fixes for Bear Stearns and Lehman and now the possible bailout package from Congress are beginning to be viewed as a bailing out of the previous bailout, with no end in sight. Cashing up and or out is a vote of no confidence in the markets. The question of whether or not the indexes are exhausting or moving to a lower, much lower trading range will be answered over the next few sessions.