Oversold markets rebound

After some brutal days, buyers are returning. Dow is up 83, but decliners are 2-1 over advancers and NAZ is down. The important S&P 500 FINANCIALS INDEX rebounded 7 to 260, still dreary but better. Oil is down in the 92s. The Alerian MLP index is down 10 to 226, a new 3 year low.

My computer is giving me a hard time today, so this will be a shorter post. But economic new continues grim (sorry, very rushed & didn't have time to get more bad news from Dell down 1.73).

• Goldman Sachs 3Q Net Plunges- Reuters
• AIG Shares Plummet as Cash Crisis Mounts- Reuters
• Dell sees further signs of weak tech spending- Reuters
• Oil plunges to $92 in Asia on US credit fears- AP

But here is a ray of hope on this gloomy day.

• Barclays confirms interest in Lehman Bros. assets- AP

The possibility some salvage value for Lehman is always encouraging. Soon we'll find out if the FED cuts the interest rate by 25 or 50 basis points. Given confused markets, that should be good for a 200 point pop at least. However big problems remain.

My article at Seekingalpha was just posted:

Why Buy High Yield Bond Funds? by Avi Morris

Hope my computer is better very soon!