We have quickly shed 11% since 1350 and lost eight months of gains in just a couple of weeks. We are back to November 2010 level with a jumpy VIX. The current crisis in Europe is drawing parallel comparison to the TARP vote to unfreeze the credit markets. When will Trichet bring out the bazookas? We may get a bounce on a bad jobs number, but without any clarity coming out of the Euro Zone, it would be hard for a sustaining rally into the weekend.
