Moody's warns UK banks of potential downgrades

"Moody's warns UK banks of potential downgrades"
http://www.ino.com/?af


"Ratings agency Moody's Investors Service has put 14 British banks on review for potential credit rating downgrades, citing the lack of any state-sponsored bailouts in the future. Moody's said the 14 lenders have levels of government support in their existing ratings that may be "too high for the evolving post-crisis environment."

Yesterdays SELLOFF lacked BIG VOLUME but had INTENSITY as it registered 89% down volume of total up and down volume. What this may suggest is that any rally from here will be weak and the selling has not brought a tradable bottom.

The VIX is just under 19 and that also does not show a huge ramp in fear. This also leads me to believe a test of that 1294 SPX area may be in the cards.

STOCKS no longer have a mouring to the real world, the FED fixed that, so only technical expertise can light the way...stay tuned. I have NOT called the end of the cyclical bull market, but it's LONG IN THE TOOTH and IMHO easy money has been made. LINKED IN mania shows animal greed has returned, another stone in the wall.

D