NYSE Euronext (NYX)

[Not_Bill_Oneil]

Well, we did get some more pain

yesterday afternoon, followed by a bounce finally.

Let's see, Bernanke is speaking today, that should be good right? No, I doubt it.

Don't expect this market mood to change from any Fed dribble at this point, only after concrete action now. If we hear of a special announcement of a Fed conference call - have your shopping list ready. Or probably more likely, if we hear of more financial market woes, then realize any more negative news and data is going to be putting pressure on all of the Fed members to move on Jan 30. and to move at least 50 bp then and now much more the rest of the year because of how far behind they are.

Bad news should be good news again. Europe left their rates unchanged today amid their softening data. This should create more bad news - which will be good.

I don't know if they try to hold out and run this out to Jan 30 now, so be ready for a surprise announcement. I'm still wary of them, so, the bounce is ridden but treated with suspect.

GL.