Futures are lower as we digest gains. So far the biggest disgrace by the administration in my opinion is their unwillingness to take back TARP money from those who want to get out from the control of the government. I guess they forgot it’s “our” money, but then again if you want full blown socialism I guess you want the ability to tell banks “who” to loan money to. After all, that’s how it starts. What an unexpected benefit other than porkulus, for the government to piss away more money. Gotta love it.
Earnings start today with MOS, AA and BBBY report after the close. Alcoa like YHOO is a serial failure when it comes to beating the street, but who knows what the reaction will be, it is such a beaten dog. I expect an earnings bloodbath, but the question is what will the reaction be? It sure would be a great time for the bulls to take some profits.