Conventional Wisdom

While the $700 billion dollar bailout is being worked on, Wall Street had to stay patient this week. But, as you may already know, patience is not their forte.

For the week, the S&P 500 fell -3.33%, Dow -2.15%, the Nasdaq -3.98%, and the Russell 2000 -6.49. In terms of outperformance within the ETFs, a lot of ultrashort ETFs fill the winners circle this week (SMN, SDK, SJH, TWM, FXP, SIJ, MZZ, RMS, SDD, SKK, etc.)

Conventional wisdom out there suggests that if we get a bailout package over the weekend, we rally hard on Monday. If we don't, we go down big time. And, if trends continue, the market is likely to throw a few curve balls just for good measure to keep us on our toes.

Rest up, and I'll see you next week.