The Market On Tuesday

  Good morning. It is 40 degrees and cloudy here in Upstate NY. The weather logo is pointing to a mixed day of sun and clouds. Curious to see that Zimmerman is in jail now for pointing a rifle into his girlfriend's face. Karma is tough. One suspects the guy is feeling rather full of himself and invincible in light of killing an unarmed teen and walking away scot-free. Regardless of his past, his present is showing a dangerously violent person.

  At 8:35 a.m. ET futures are flat and the price of oil per barrel is down. The market is poised to open flat to lower.

  It is a step back and take a look at where we are at type of morning. The DOW passed 16,000 yesterday morning and that is quite a perch. Interesting article yesterday from Reuters which pointed out that the balance sheets of corporations are looking pretty fluffy right now more as a result of cheap money AKA Q.E. 1 through 3, than of any type of super human managing skills. Cheap money can make your balance sheet look real good and then when you get into interest rate swaps and credit default swaps, we have these curious modern economic instruments that produce blazing profits.

CNN: Stocks: Stepping back from record highs

"Nobody really wants to be buying right at the top."

Investors were awaiting a number of corporate announcements, which could help set market direction.