RUDE WEATHER

Marekts look to gap lower at the open (SPX-5.25, NDX-12, DJIA-37), on the heels of crummy inflation numbers and a host of downgrades including INTC and YHOO. Overseas markets also lower.

Not sure the dip buyers are going to let this market fall to far as there are plenty of folks who feel/felt they were/are not long enough.

In light of all the DJIA 12K predictions on bubblevision yesterday, I have a few of my own; crude will hit 60 before 50; gold will hit 600 before 500 and the DJIA will hit 12k before 11k or even 13k. And to really go out on a limb, OIH will hit 140 before 120.

Support on the DJIA futures should hit at either 12,000 or 11,970 so watch those numbers for a bounce if indeed it plans to bounce today. And kudos to the Shark Report for being the first and only investment blog to report on turnaround Tuesday on Monday (laughing out loud).