Freaky Friday

So Geithner, Paulson and Bernanke walk into a bar and….sorry I digress.

World markets are lower and U.K. repossessions have climbed to a 12 year high as banks seize 40,000 properties. Not a surprise, and we knew it was coming, but the headline damage is what we have to worry about. Japan’s Topix is at the worst level since 1984 and UBS tumbled 16% as America sues them for enabling 52000 of our tax payers to hide money offshore and avoid taxes.

Today is a pivotal day, will we bounce and see a short covering rally near the close or just fall further into the abyss? Good luck.