Friday was the first day with any selling pressure in 2010 - the futures open after this long weekend up about $5 points - negating much of fridays losses, the path of least (or no) resistance continues to be up. I guess the market is playing close attention to the situation in Mass - i would imagine republican is superbullish and democrat is just bullish - but im not really following the story to closely. Also noteworthy is that GOOG is backpedaling somewhat on its threat to leave China - that should send some ripples thru two major beta plays GOOG and BIDU - Bidu rallied on the GOOG news from 386 to 467 in a week. I put on some downside put butterflys in BIDU on that big rally last week - we'll see how those play out, I would imagine BIDU will give back some of those gains.
Anyways earnings news will be flowing in all week along with Citi and Goldman this week. Random thought if Citibank ever makes $1 per share again they will make over $20 billion..... thats funny.
Anyways - we'll see what tomorrow brings but this market has had an incredibly hard time stringing two down days togther - i guess first and foremost cuz you need one down day - but I digress.
JB
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