The Market On Tuesday

  Good morning. It is a crisp 47 degrees and it is sunny here in Upstate NY. We are on a course for Winter to arrive sometime next week! I swear it's getting cold a little too fast and by the way where is the alleged Indian Summer. Checking the morning numbers I see that Romney is right where he should be, down in the polls. Yes, we do not need Romney to come in and decimate the economy, enough of that for a while please. Dude wants to cut taxes on the rich, again, and that will stimulate the economy. Right, and just look at how effective that plan was under Bush 2. Still, the only lead over Romney that would set my mind at ease is something like 10 percentage points. That's a margin that would allow Obama to make his normal screw-ups and for Romney to take advantage of GOTP voter suppression techniques honed in 2000 and 2004.

  At 8:00 a.m. futures are modestly higher, the dollar is mostly up against major world currencies, and the price of oil is up per barrel. The market is poised to open in slightly higher territory. Investors and basically the rest of us are still contemplating the eurozone financial meltdown saga and the global market contraction. What can we say, every week we read of a new plan of action, a new promise, and a new initiative on solving Europe's crumble. With each new invention, the market percolates, and with each realization of inadequacy, the market flounders. So, in my mind the major lesson is the recognition again and again that index movement is a moment to moment reactive mega-event. Fundamentally the problem with that is all parties including all invested people around the world want soaring returns and then conflicting or colliding with the need for returns is the deep extensive need for some breathing space and retooling. Essentially there is no room in the above formula to move out of carbon based fuels, force feed renewable energy, and try to live with the already extensively elevated CO2 PPM that we have right now and that will continue to radically alter the globes temperatures and a uncountable number of events within the mechanism of our environment. Mega-global warming here we come.

CNN: Stocks: Choppy trading ahead

Worries about Europe's problems have caused the euro to keep sliding against the dollar, while the dollar has fallen versus the British pound and Japanese yen.

In the United States, investors awaited reports on home prices and consumer confidence.