..no big deal

What was a choppy yet range bound trade on indices turned sour at 3:30pm with a quick spike down.  We're not sure why and we're not overly concerned about it.   It may have just been a pre-Meredith slip.  The Oppenheimer analyst Meredith Whitney has that effect it seems when she enters a room and yesterday she was to appear after close on CNBC to discuss her almost daily shavings of Bank estimates.    Maybe a few expected a surprise or something to slip out of her lips.   As if!.   Anyways...the market had no chance from the start yesterday thanks to ORCL's earning and pretty good ECO data was not going to change the markets mood.    We're keeping this short this morning, we gave a detailed outline yesterday on the stocks and sectors of interest and our trading theme remains the same of buying favorites on the dips.  

A few things of interest heading into the trading day is the Citigroup BUY rating change on LEH and Merrill's BUY on X.   We'd look to trade these sectors to start and then see if it rubs off on the others.