THE TESTIMONY

Markets open higher as particpants are hopeful that a deal gets done soon - and the testimony begins now.

The DJIA +60, NAZ +18 and SPX +8.5.

NYSE/NAZ flat internals;

NDX/OEX- 70 GREEN on each;

VIX- down 2% at 33;

Up volume a hair above down;

Interesting stuff as the game of chicken begins- how much can congress get for their constituencies before wall street blows up?

My guess - a deal gets done soon as no one wants to be blamed for the crash of 2008!!!

Some nice links this morning:

Barry with not FOUR but THIRTEEN QUESTIONS;

Hegemony on why $700B is not enough;

Trader Mike - on the fiddy and banning selling;