Today we look at durable goods orders, new home sales and oil inventories as the market tries to shake off yesterday’s profit taking session.
The market still has much to process, TARP, TALF, budget plans, stimulus packages as we land on the mid part of the week. From my perch the euphoria seems to have abated and now the skeptics and naysayers are coming out of the wood work when describing this toxic relief plan. The invisible , silent killer of the market is uncertainty, and we sure seem to have an abundance at this point. We’ll see how the market reacts today, but I’m VERY cautious on the financials here and will be looking at rallies in the group as a gift to initiate more shorts. Also, I have this feeling that I need to be getting short oil soon. See you on Twitter.