It was a long week and I am looking forward to the weekend. So far we have lost about 400 points this week and it could have been worse had we not turned yesterday. By the way check at my fellow blogger Brian who called the turn perfectly yesterday.
The financials are catching a bit of a bump as Bank America shamelessly sucks more blood from us taxpayers with little remorse. Citibank reported and as expected the number was dismal. Their CFO also announced above average losses from first tier mortgages for the next several quarters. Just swell.
Consumer sentiment will be out this morning. Let’s trade what they give us and have a great day.