Another rocky day in the markets. Dow squeaked out a close above 13K, obviously that may not hold very long. At the extremes, Dow was up 100 & down 100. Advances & declines were about equal. NAZ was up 3. It's very difficult to explain this behavior, making the future more uncertain. VIX, the measure of volatility, is about 26, a very high level. Expect more big swings.
Countrywide (CFC) was the focus at the end. After the ugly news about the government mortgage agencies (FRE & FNM) earlier, they denied they have bancruptcy problems. I'm looking for another volatile day tomorrow.
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