Well the next phase of 'save us from ourselves' has started as banks such a BAC announce huge layoffs now that they have more than enough cash stuffed into the vaults. Rates are at zero and there is plenty of cash to go around, but like the Japan model, no lending. Well, no lending unless there are guarantees that is.
The great business class, preaching the merits of Republicanism and now once again needing to get bailed out. Not an idea what to do because the only real talent they have includes devising ways to make pigs look good.
As stated in previous post, some technical elements run at this location have rollover characteristics. The sound of the floor cracking is being heard tonight as markets sell off into Friday's session. A hard down day on big volume after repeated modest gains on light volume would not be what this market needs. These markets need to have hard upside reversals to remain base builders.
