Monday, November 2, 2009

Whirlwind Continues

Back from a jam packed weekend. I fly out of state tomorrow on business and won't be back until Sunday. I am hoping I will have decent Internet connection and time to post some things but not sure. This should bring an end to last three in half week whirlwind that I have been experiencing.

This week is going to be very tricky with Fed day on Wednesday and unemployment numbers on Friday. We are possibly entering a very screwy period in the markets where good data will send the market down because it could mean liquidity will leave the market as the Fed takes action. So with that the first tricky data point is the ISM numbers tomorrow. Chicago PMI was much better than expected so there may be high expectations for that number but other regional numbers that don't really get followed like the Richmond PMI and Milwaukee number was worse than last month. Either way, what will be more telling is how the market reacts to a good number or bad number.

This CIT thing is non news though it is getting talked about alot over the weekend with the CHP 11 filing.

Don't really have much. If we have had a top which it appears more and more likely that we have, I would expect the market not to make it easy for the bears. We shall see but would not be surprised at all that the markets rally during the week.

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