Oil is higher again and European banks are getting pounded this morning. The Nikkei was down for the ninth day in a row. I am waiting for a flush out, a puke, maybe we can get it this week. Here are some happy updates from Bloomberg.
Breaking News
•Stocks Drop in Europe, Asia, Led by Porsche, RBS; U.S. Index Futures Fall •House Prices in U.K. Have Biggest Annual Drop Since 1992, Nationwide Says •Broad Says U.S. Is in Worst Recession Since WWII, Sees Recovery Years Away •Manufacturing in U.K. Shrinks Most Since 2001 on Credit, Commodity Costs •UBS’s Clients in U.S. May `Come Clean’ in Unprecedented Tax-Evasion Probe •Global IPOs Decline to Five-Year Low as Economy Slows, Loan Losses Climb •British Property Stocks Had Biggest Decline in 20 Years in Second Quarter •Turkish Police Detain Retired Generals in Probe of Plot Against Government •Israeli Attack on Iran Increasingly Likely, Pentagon Official Tells ABC