Bears Take Control

Thursday, February 04, 2010


  • Market drops 268 points breaching psychological 10,000 level briefly.

  • Visa beats by 11 cents, Mastercard misses by 4 cents on higher costs. Mastercard gaps down 15, drops another 10, ends down 10%. Visa fades from gap up and closes down 50 cents.

  • What will the jobs number show tomorrow? All eyes on the number. Probably need a short rest after today so we'll probably see a positive spin on whatever the number is. Read some rumors that numbers may have been off by over 800k jobs last year, even worse than the government reported. Not good news.

  • Europe falling apart. Euro retraces 50% of move up on sovereign debt fears. Zero Hedge creates STUPID Index.

  • Toyota can't find a friend. Now 22% off highs. Guess making cars that can't stop is kind of a problem.
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