Today, just throw darts to find a winner

Today was one of those days, all news was considered good news. Dow was up a big 212, advancers over decliners almost 4-1 & NAZ was up 29. Impressive rally except for very light volume. At mid July NYSE volume was 1.8B, then a month ago it was down to 1½B. Since then it has been falling & falling to under 1B. Leading today's charge were banks once again. S&P 500 FINANCIALS INDEX was up 12 to 287, clearly off the 267 recent low.

Oil plunged on news oil would be released from stockpiles if the storm (Gustav remains a storm for the moment) does severe damage in the Gulf:

CLV08.NYM

Crude Oil Oct 08

..115.64 ..

2.51 (2.12%)

Crude Oil Declines After IEA Says It Will Release Stockpiles If Storm Hits

The Alerian MLP index which tends to follow the lead of oil price swings, even though it's not directly linked, rose 1½ to 272, climbing back to a new high for August.

When all news is considered good, enjoy. Trading should be even slower tomorrow, big picture economic problems in the US economy drag on. For what it's worth, I still think the Federal Reserve is burning the midnight candle trying to come up with a rescue solution for Fannie Mae (FNM).

•Dell Second-Quarter Profit Falls Short of Analysts' Estimates; Shares Drop

After the close Dell (DELL), reported disappointing earnings. The stock fell 42¢ in regular trading & another $1 in extended trading setting up a negative tone for tomorrow's slow trading day.