What Could Move The Market Today

Geithner speaks in about 20 minutes, lets see if he can lay out a decent plan today. A positive testimony could give the markets a rally similar to when Bernanke testified last week. 

An update: we are about a 1/4 of the way through and I have not heard anything new... I hope we get some discussion about the banks. I can now see why Geithner does not come out on t.v often, he comes off as very awkward. I will give him credit though that whenever someone criticizes his policies, he shows a lot of fight and drive to defend his policies.

Well he didn't really touch much on the financials, rather focusing on the budget, which was the reason he was there for. 

It looked like a positive day with the dow up over 80 points, but then as usual the market went down to finish down 40 points. But that is a relief considering it has become normal for much larger drops in the markets. They say the market has bottomed when there is no hope left, well looking around at what other investors are doing/saying, it sure seems like there is no hope left. I think the market is going to make a bottom in the next few days followed by a short rally as the markets have dropped so dramatically so quickly. If you own solid companies, now is not the time to dump them off in fear because I think we should be seeing some kind of bottom soon. But of course, it is impossible to predict a bottom. I was watching CNBC earlier today and there was a consensus that the 600 level in the S&P 500 would be a worst case scenario.