50K IN ONE WEEK

50,000 job losses reported FRI, major corporations paring down departments and seeing 50% whithering of orders, or no back logs.

The MAJOR Banks are on life support and death watch, more than doubling the monetary base in a few short months has not turned this around.

MAJOR BEAR MARKETS (this isn't?) have ended with SINGLE DIGIT PE'S and DIVIE YIELDS North of 6% for SPX. WHAT ARE PROJECTED SPX EARNINGS GOING FORWARD?

Some have suggested falling to maybe $50 and X 10 gives us a SPX at 500 not 850....this is certainly possible.

Historically we find MANY indicators well beyond previous bear mkt bottom extremes, trouble is extremes were hit other way too.....hard to say how much more unwinding we get.....or whether we get Obama bounce, or have we already had it?

D