1.2% to 2.44% loss in averages in heavy volume....

Markets were stretched so a bout of profit taking took hold.....

Surprisingly indices did not fall too far and loss were contained to a reasonable level.....

High volume was an indication of large profit accumulated by many......

Many reasons were given for today's fall...from poor bond sale to Bank stress report...but the real reason was that markets had a nice run and a rest was required.....

I do not see any damage to the positive sentiment @ all....it is intact as we go forward......

AH ER..IPI was a beat CC before open...where guidance will be given..stock UP 86 cents AH on 45,000 volume.....

NVDA for Q1 had a beat on EPS by 2 cents & large beat on Sales $664.2 Million vs consensus of $514.7 Million..Q2 guidance is very strong as expected Sales guidance $697 million vs consensus of $536 Million..margins improving big time to 33% vs Q1 @ 28.6%.....reward for all this improvement going forward... AH NVDA Down 15 cents from close????

AH Futures are all GREEN.....

All banks are being pro-active who need to shore up their capital..WFC,BAC,C,MS all announced after close shares sale or conversion of preferred to common stocks.....

BLOG does NOT give buy or sell.

Saleem