Why Can’t This Market Have A Follow Through Day?

Maybe because the credit crisis is morphing into an economic crisis and folks are scared, I don’t know. That’s how I think it plays out, but that’s just me. AAPL guided lower but the stock moved higher in the after market. It’s not all bad, but the market is rudderless and has absolutely no leadership right now.

The bloom has really fallen off the rose over at RIMM headquarters and now we wait for the next Wall St. darling because it isn’t RIMM anymore. So many trapped longs in that crowded name. Not much support below $50—45 then 40.

If the market is true to itself, it will rally tomorrow as it has become a puzzle wrapped in an enigma. Great for traders but not for the faint of heart. I’m trying to get my hands on the transcript of Paulson lobbying hard for 40 to 1 leverage while at the helm of GS so he could “diversify” its business. Now the fox has the key to the hen house. Funny how things turn out.

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