The Black Box

[baletwine]

Here's one comment Wahz...

From Briefing.com

13:45 ET Floor Talk : Hearing from trading desks that markets are taking an interest in comments made by Federal Reserve Bank of Chicago President Michael Moskow. Dow Jones is reporting that in prepared remarks presented Thursday to the Commercial Club of Chicago, Moskow said that while the federal funds rate is currently very low, the real funds rate - which is adjusted for inflation - is also unusually low by historical standards. "In fact, today it is negative," Moskow said. "As the economy picks up and the output gap narrows, this real rate will have to rise to a level more compatible with sustainable trends in economic activity." Note that Moskow isn't a voting member of the Fed policy-setting committee.

Also...

15:33 ET Traders attributing market sell-off to SPX sell stops :

Terrible day. Man. Little CORV has done well since I said it was "heavy" @ 1.90 earlier. LOL. Really bucking the trend here. Shoulda bought some there.

-- Bale