THE EARLY UGLY

Futures are lower yet again as the news at AAPL was not particularly good in the after hours as they confirmed more health problems for CEO Steve Jobs.

The news from the banks, ditto, as apparently more TARP money is needed at BAC as the Countrywide and MER acquisitions apparently not going so well. Anyone want to rethink the bonus denied to John Thain? And how about giving the government some control over the way BAC spends the new TARP money- could they do worse than Ken Lewis with his brilliant Countrywide and MER spending spree?

The numbers, which haven't done well on this market sell off- the VIX - about 16% above the SMA 10 - and the RSI (2) on the SPX near 3 and about 0 on the DJIA-

More news- GOOG cutting recruiters;

BESPOKE with the best and the worst of 2009;

And what are the ramifications for PWC- they didn't confirm cash? Send a letter to the bank confirming the balance in the bank as at a the end of the accounting period!!! A task usually done by the most junior of accountants.

FWIW- the indexes year to day- (14 days);

SPX -6.7%

DJIA -6.6%

NAZ -5.5%

NDX -4%

RUT -9.25%

MID -7%