MARKET CARPET & INDUSTRY RANK

holyyyyy...the carpet LIT UP today!

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WAXMAN REQUESTS COMPENSATION & BONUS INFORMATION OF MAJOR BANKS

The bodies of the letters are all the same:

Letter to Citigroup (PDF)
Letter to Bank of America (PDF)
Letter to Bank of New York Mellon (PDF)
Letter to Goldman Sachs (PDF)
Letter to JP Morgan & Chase (PDF)
Letter to Merrill Lynch (PDF)
Letter to Morgan Stanley (PDF)
Letter to State Street (PDF)
Letter to Wells Fargo (PDF)

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SEPTEMBER NEW HOME SALES UP 2.7%

TODAY'S ACTION

Can't really be surprised about the last-half hour meltdown. This is a disaster for the market because the initial support level is now broken and October 10's low is the abosolute last level remaining. There are no more short-term support levels remaining. Technically, if you count the bodies and not the shadows, we broke down a long time ago. Doesn't look good for the market at this point.

S&P 500 1-day

S&P 500 3-day

S&P 500 10-day

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