MORE BS PROMISES

Watchdog Says Overhaul Didn't End Future Bailouts- AP

"A government official is preparing to tell lawmakers that the recent overhaul of financial rules has not delivered on its promise to end future bailouts."

MBA Mortgage Purchase Index free falls -12.9%

Look at my chart from TUES, "AM data , New Home Sales ... boy that ain't getting it done!!! WHAT is this rally if it doesn't bring housing along for the ride?

New-home sales in 2010 fall to lowest in 47 years- AP
Buyers purchased the fewest number of new homes last year on records going back 47 years. The Commerce Department says sales for all of 2010 totaled 321,000, a drop of 14.4 percent from the 375,000 homes sold in 2009.



Look for FED at 2:15.....nothing else matters until then and even after it will be one head fake after another.....but normally day after STATE OF UNION RAH RAH mkt gets bully.....not so much today.

JNJ profit falls 12%
BA profits declined 8%
DD 4th qtr earnings decline (but of course beat the street, what a joke)

7 new etf launches

Surely we don't want economy to SPUTTER, FED doesn't either and there should be NO change in 0% funds rate, BUT my faithful friends, as seen in chart of new home sales and FACT home prices keep declining, it is obvious it has failed in that respect, and jobs, but not in the stock market......manipulated things tend to implode at some point

D