Wachovia takes a big knock on the chin, so does American Express, Apple gives light guidance--but you know what? The market rallied in the face of all the bad news with financials leading the way. The big drop in oil and tough talk from Plosser which propelled the dollar higher helped as well. WaMu reported worse than expected earnings and is down after hours, but I would not bet against that sector or the market at this point. If you are, you are betting against the current trend which is a dangerous thing to do.
- DV bounced off the 200 sma. It's looking very solid at this point. Stop out below 200 sma, take gains on upward moves.
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