20090305 PM

Dow 6,594.44 -281.40 (4.09%)
Nasdaq 1,299.59 -54.15 (4.00%)
S&P 500 682.55 -30.32 (4.25%)
10-Yr Bond 2.819% -.192
GLD 91.987 +2.997
SLV 13.15 +.37
PTM 12.94 +.28

Broad market down without huge volume. Whenever a short covering rally starts, it will be sharp and violent.

There is no trust in the banks. The financial prices are racing toward zero, which will quickly pressure government to "do something".
XLF 6.24 -.65 (9.43%). 52 week low.
FAS 2.75 -.97 (26.08%). 52 week low.
C 1.02 -.11 (9.73%). 52 week low.
HIG 4.13 -1.01 (19.65%). 52 week low.
PNC 20.00 -3.26 (14.02%). 52 week low.
MFC 7.69 -.84 (9.85%). 52 week low.
USB 9.01 -2.00 (18.17%). 52 week low. Huge volume.

ERJ 9.75 -.65 (6.25%). 52 week low. Has volume and can keep going lower.

RGR 10.05 +.60 (6.35%). Gun maker. 52 week high with good volume.

Mechanical trade:
EEV 62.99 +4.36. Day range 60.93 - 64.05. Bought at 63.1. Loss of .11.



The violator pays a small fine for systematically ripping off their customers. When will the customers get their due?
14 Trading Firms Settle Charges for $69 Million
By DIANA B. HENRIQUES
More than a dozen Wall Street trading firms systematically cheated their customers of millions of dollars by improperly slicing bits of profit from countless trades, federal regulators said on Wednesday.
The Securities and Exchange Commission disclosed the allegations after negotiating settlements. The firms did not admit or deny the charges but agreed to pay a total of more than $69 million in forfeited profits and penalties.
... include units or subsidiaries of well-known Wall Street names, including E*Trade Capital Markets, Goldman Sachs Execution and Clearing, Knight Financial Products and TD Options.