Logic argues for a rest but Mr. Market's not giving much ground. Some of this may have to do with options expiration tomorrow as those who can hunt down strike prices forcing exercise and hitting stops. Sure, it's a mean game.

IBM posts good earnings while GOOG beats. So, you think over the last two hours of trading some folks got the memo? Just saying… In the meantime even horrible earnings from companies like Harley-Davidson (HOG) were bid higher following the dreamy "the worst is over" buy from WFC.

Volume is still unimpressive as many individual investors are watching but not playing despite all the cheerleading from the media. They love to talk about the trillions on the sidelines about to come in the market. Most of that is in bonds and it remains to be seen whether they get sold. Breadth is rather confusing and mixed by the table below.
























































































































































We've seen more earnings leaks than usual and it goes without saying some have the number in advance of us commoners. So we get these "stick saves" toward the end of trading.

Other than Google, things are a little soft in after hours trading tonight. AMD reported and the stock got sold as did IBM.




There's quite a mania going on in Emerging Markets and some commodity sectors. This is driving prices to extreme levels (parabolic) making mincemeat of rational judgment. It's mostly driven by peer performance pressure, excess liquidity, and low yields; but, still only modest volume. Most investors are still feeling the bitter pain of losses and seem reluctant to take Wall Street's bait.

I'm a skeptic but willing to go with the flow since that's my primary mission even if kicking and screaming.

It wouldn't surprise to see more options related activity tomorrow as those on the options floor will be hunting down of strike prices.