Unusually Uncertain?

No… more like bitch-slapped! Looks like banks got slapped by Bernanke and the entire market goes down. Bernanke said NOTHING new but the market reacted as if we’re just learning Europe is broke and there are many people unemployed! On the other hand, many senators probably had not known that.

Earnings reports on Wednesday morning were generally good. MS and WFC had good reports that really had the bank sector taking off. But that was some negative reaction to Big Ben speaking on the hill. The markets are still up for the week so all is not lost.

Are We As Worried as We Were Back in March 2009?

All said and done, this is one tough market to be trading. I didn’t buy a thing today and sold for some small profits and even smaller losses. Tomorrow, besides an even bigger day for earnings, we have Initial Claims. You would think that we could figure out how the market would react after a report, but, like today, who knows! Uncertainty as usual