Insurance stocks such as MET, PRU, LNC AND HIG are all up sharply on speculation that they may be allowed to borrow from the tarp. This could spark a pretty good rally in the sector, and I will look to bottom fish some of the more downtroden names.
Looks like Pulte will buy Centex. I guess they decided to pool resources and build houses nobody wants to buy.
I don't see how the market will stay down based on these stories. Coupled with BBBY's earnings report, I expect the market to go green and make a substantial up move after the open. I will be looking for good long set ups after the bell.
PLD is keeping the trend going with its very own secondary.
Asian and European indexes were mostly down.
Another reason I am glad I am not a Californian.
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