Higher morning

Early morning higher:

The financials are up overnight and early this morning. If we can get enough people in through the snow, possibly there may be a rally to break out of the S&P 500 trading range. (We will have more on that later today).

The Obama administration has let it leak that in their banking plan they are hoping to start a “bad bank” in hopes of holding more toxic assets and breaking the back of the lending freeze. Citigroup, Bank of America as well other financials are leading the rally, we will be looking at the closing prices as well as advanced/decline volume to see if there will be a follow through.




posted by Peter Greene