Amazingly Still OK, but Dangerous Talk On The Sidelines

All the major news outlets are spouting their propaganda: "Recession won't be bad.  recovery on the way!"

You just know that market bulls are itchin to drive the Dow back up to 14,000.  With dangerous, blasphemous, scandalous, and subversive thoughts such as these being thrown around, we can see major swings.  If you keep floating, BE CAREFUL.  

MBS are showing tremendous resiliency today.  As the Dow has pared about 20 points from the highs, MBS were quick to take up the slack, improving by 2/32nds.  Floaters can keep floating, but stay glued to market news and beware of a major stock rally.  If you don't have time to check back here, I would use the Dow reading of 160 or above to start worrying.  

Until then, stay tuned for more info...