AM MARKET TALK

Nike Posts Earnings Beat, Orders Decline good news bad news?

We got a glass that doesn't even have any water in it!

Personal spending up 1.4% !! Does this make ANY sense to you????

With manipulation allowed, Fed officials lie under oath...."I don't remember" "No I never told anyone to put pressure on BAC...." SPX futures buying coming out of nowhere to goose market, and in front of news....

Folks, the big issue is still housing IMHO and STILL home prices are FALLING. IF THAT IS TRUE.....what does that do to ALL that fantastic mortgage paper out there the banks etc hold and have been told you DONT have to MARK to MARKET VALUE anymore...?

Play for a rally....but I think the sand in the hour glass is running out....even IF one more rally zutz in it, the market is on borrowed time IMHO. Look at action near SPX 930 to see if that right shoulder is going to form....950 ish the highs

D