The Market On Friday

Good morning. Hey, its the weekend again. Wasn't it just the weekend the other day? Time is flying and I want to slow this train on down. This weekend we paint the kitchen, the final coat of paint i.e. Paint away.

At 8:30 a.m. futures are moderately down, the dollar is down, and oil is up $.03. Peanuts they say.

I have gleamed 3 reasons for today's negative pre-activity. First, yesterday's rally was so big, that today there's nothing left but fuzzy memories, ripped up underwear, and scratches in unmentionable areas of the body. Second, Bernanke gave a talk in Germany a short time ago, and investors don't like what they are hearing. "Quantitative easing" is not popular with the investment home boys. Third, there isn't a whole lotta stuff going on today.

Having given reasons 1 through 3, some ameliorating factor from the deep blue unconscious will arise. By 4 p.m. we will know what it is and that, you ingrate, will be why the market goes up, down, or sideways.

CNN: Stocks headed for weak open

"We have a bit of a hangover after a rally yesterday."


In his speech, Bernanke defended the Fed asset-buying plan, saying the strategy has worked in the past and could help reduce unemployment in the United States. He also argued that nations need to work together to correct global imbalances, as the world economy recovers at an uneven pace.


Oil for December delivery gained 3 cents to $81.88 a barrel.