THE PLAN

Markets opened at the highs and have been coming down since as index futures were trading limit up before the open.

Strong sectors- financials, brokers, banks, homies and gaming while real estate, reits, drugs, metals and semis lag.

NYSE- 2400 GREEN;

NAZ- 1700 GREEN;

NDX- 75 GREEN;

OEX- 85 GREEN;

VIX- down 12% at/near 29.25;

Up volume 5X down with over 1B already;

Not a buyer at the open but maybe before long depending on the dip (which continues) as the DJIA has lost about 100 since I started typing.

John McCain with a wonderful headline this morning- "Fed Should Get out of Bailout Business"- well John did you want to see a depression? and you don't like 800 point rallies on the DJIA?

Bottom line- it had to be done as the economy could not stand a continuation of the status quo- we can't have all the money center banks become insolvent- so its probably a good thing in the long term even though its seems pretty pretty socialistic in the short term.

One other thing- don't sell stocks when the VIX makes a six year high;