BLOGGERS

The bear is growling quite loudly and I don't remember many bloggers (this blogger included) yapping about another big sell off before the Fed head speaks on Thursday. Most expected chop and that is the last thing we have as the markets continue on a steady path lower. I have not seen much of a reason for the sell off, but I do see fairly high volume and steady selling in the SP futures. The shorts may come to cover before the close but I expect the markets will still end near their lows.

Some of the oil stocks are higher but most have turned down and crude is trading back up to $72. Maybe North Korea and Iran are back on the radar but one can always come up with a reason why the markets should be lower or higher.

MSFT T and XOM are the only DJIA stocks higher with GM bringing up the rear, lower by over 6%. I read where GM is now out of the woods as far as bankruptcy is concerned; I have my doubts and my guess is within a few years it will become clear that they are done. Of course $80/$90 oil will not help their case but all companies need to adapt and not offer excuses. The new zero % finance plan takes the place of last year's employee discounts and offers them another excuse of why there are no profits anywhere in sight.