PRE MARKETS

Futures are pointing higher again this morning as BAC has beat the lousy expectations- oil also trading up but off the best levels as storms look to hit the gulf of Mexico.

Since the markets have been bouncing the last few days form a low of 1200 to the 1260 level on Friday it may be worthwhile to actually look at how bad they have been since the recent highs:

SPX October 07 high to now -20%;

NDX November 07 (recent high) -19%

RUT July 07 -19%

MID July 07 - 14%

BKX Feb 07 - 43%

XBD June 07- 43%

MSH Oct 07 - 20%

RLX Feb 07 -35%

HGX July 05 -62%

BTK Oct 07 -6%

RMZ Feb 07 -33%

EEM Nov 07 - 22%

EFA Nov 07 - 21%

EWZ May 08 - 21%