morning stuff

Pre open futures look to open lower after the big +420 day - as MS seems to be replicating the LEH GS report from yesterday.

Through the grapevine I hear Mr. Gartman is looking to exit much of his short equity position this morning- he says:

"When the facts change, I change; What do you do, Sir? Price is the paramount "fact" in all markets, for price trumps all else... and the price is telling us that being short is wrong, and manifestly so."

Trader Mike with his take on yesterday's markets.

The Quant says things are looking good for the bulls.

BESPOKE seems to think its more short covering.

The BIG PICTURE on the BEAR.

Bonds with nothing and is anyone really unhappy about it?

And this guy on why it was all worth while?

My two cents- watching the key levels- 1,315 and 1,270 on the SPX- as long as they hold, and I expect they will, I will remain long until the markets show classic signs of over bought conditions.