The first and last days of the month are very often contratrend. We will see what the jobs report does tommorrow and where the market is say next Tuesday. I trade the market every day and am out of it every night. It is a good sign that financials which led the market down have appeared to bottom. But just financials and retailers will not lead this market back to where it was. At this point I am still tending to pick my spots shorting strength, although I am not shorting strength in the financials and actually longing them a little on intraday weakness.
Do you watch the foreign markets. It seems several, if not many, of the Euro banks have been dealing with the ECB under the table to keep their problems away from the public. SocGen seems to have been an embarrassment that got public. Of course, it is being blamed on an individual.
yitbos