Midday

Yawn......SPUZ are down 11 bucks - and have been in a 2 or 3 point range for the last couple hours.
Today is the last day of the month - lots at stake with where stocks close, management fees, incentive fees - its a stressful day for many market participants.
TECH is weak, REITS are weak, Oil is weak everything is weak.
So what do you do? Do you hop on to the short side? Get long for a reversal? Do nothing? Im going with number 3 right now, I have plenty of shorts on and with it being the last day of the month I would not press my downside bets - but I gotta tell you I think they could be down 3% today.
Random thought. If you are AIG why are you not taking advantage of massive volume and selling stock thru an ATM program and raising money. If market participiants want to rally your stock take advantage and raise some capital - who cares about dilution this company cannot really make any money until they pay back Uncle Sam.
Anyways - tomorrow is HOV earnings - Ill be paying close attention as I am long the preffered and short common - I have bought some upside common calls just in case the common rips higher.

JB