SPIN DAY!

Bank of America needs 34billion more capital.   The market will probably rally +200 points today, as the media spins this story to be a great story.    Here is my favorite "Spin" on the whole thing from the NYT:

 "Mr. Alphin noted that the $34 billion figure is well below the $45 billion in capital that the  government has already allocated to the bank"

Yes 34 is less then 45. But, Mr. Alphin  it still is a total of $79 billion of Tax Payers money!  


ADP numbers were reported today -491,000 jobs.  THIS IS FANTASTIC!!!!!!!!!  It means we are losing less jobs!

So the market keeps rallying on bad news Great ECONOMIC DATA!  The /DX is down this mroning, oil is up, TNX up.  Looks like this market wants to rally.