December 10th Edition

Good Morning All,

Yesterday may have been blogless here but it certainly wasn't snowless, at least not in beautiful Montreal and its environs. Markets too had a stormy day as profit taking and other stories assumed temporary precedent over their recent show of optimism.Things look a little better on both fronts this morning as the upward trend attempts to reestablish itself. We will continue to monitor the TED spread,( now two...ish versus five..ish), the LIBOR rate, the U.S dollar, and the technicals for signs of danger but right now the generally bad news seems to be enjoying a market discounting that is set to run through inauguration day.

The news out of Illinois may have added to the market concerns yesterday although Fox News must have had a field day. No one of a serious or patriotic nature would want anything to interrupt the Obama inspired hopes that have most recently pervaded the American pysche. It would seem that this creep of a Governor has already cleansed the President elect of any possible collusion by having referred to him on tape using the F word.