Markets are still range bound and oscilating near the middle of the YTD ranges. As10% plus haircut earnings from the likes of AA, UPS, & GE combine with additional writedowns in the billions from Wacovia the Bull fantasy is losing steam. Question is what will be the catalyst for the next major leg down? How about hot PPI (Tuesday pre-market)and CPI (Wednesday pre-market)? This should lend an interesting end to Options expiration week!
