Action with less energy today as the markets look to a Senate vote tonight and a possible House redo on Friday. Warren Buffett is buying stock here he claims, with himself providing cable business news interviews explaining his reasoning. He like all traders will always qualify any view of the market by paying homage to uncertainty. It is hard to get a handle on the market's moves since every effort to stabilize the monster has ultimately failed. Each trader is hoping for passage of the bailout bill but none will place a large bet that it will do the trick. News of continued hedge fund bombs poor out as many of them seem to have twisted themselves into inescapable strategies.
Despite yesterday's rally, markets remain quite oversold. With the Senate and House votes coming up along with Friday's unemployment data, the action shall spin again.
