The Blame Game

So much for super Tuesday.

From the get go - the bears took control of the tape and showed few signs of letting go.

A lot of blame is being placed on the ISM report and comments by Lacker, though I think the real blame can be put squarely on Bernanke. After all, we haven't had any more rate cuts this week!

Playing on the pullback from overbought conditions and heavy resistance, I monkeyed around with some ETFs like the ProShares UltraShort FTSE/Xinhua China 25 (FXP) but I'm staying far away from stocks as much as possible due to headline earnings risk and a lack of low risk/high reward entries after the recent bounce. Most of the stocks I like are technically broken anyway and are suffering from loads of overhead supply and resistance just like the market. This is going to take some time to work out UNLESS the Fed can pull another ace from its sleeve and soon.

Now, off to the caucus we go!