The Market On Monday

  Good morning. It is 18 degrees and sunny here in Upstate NY with the temperature expected to go up into the high 30s later on today. I hope you had a good weekend. Yours truly was at one time a decent practitioner of yoga, and now I regret having let that practice go for the last 4 years. Long story short I am back on it and right now I am doing yoga along with DVDs I found on Gaiam. I am convinced that of all the physical activities one can do to improve an overall sense of well being, yoga is possibly at the top of the list.

  At 8:20 a.m. futures are significantly lower and the price of oil per barrel is lower. The market is poised to take a steep drop at the opening bell.

  Today investors will turn their attention back to the eurozone. The eurozone remains in financial straights and right now the pointed attention is on Cyprus. Cyprus requires a bailout as their banking system is seriously faltering. The articles tend to leave the sense that lots of 'questionable' deposits are made in Cyprus. The major fear seems to be that the problem might not be limited to Cyprus, so expect to see this dragging on the indexes for the next period.

CNN: Stocks: Europe back in focus. Again.

"Cypriot banks are widely thought to hold large sums of legally questionable funds - a true tax haven - especially by Russian standards..."

...little domestic economic or corporate news on the docket Monday.