1) we spiked because bernanke said he will do whatever it takes(assuming rate cut) if credit markets continue to deteriorate. which of course they will. the market then gave everything back because bernanke actually sounded pretty damn gloomy about the economy. 2) we then spike almost 100 points because bank america is supposedly in talks to buy countrywide. is this reall a shock becuase those idiots have already invested billions in country wide and have taken a beating. its a move to save face and not have to admit they were wrong; which they were. dumb friggin move. you will now see other financials rally anticipating more buyouts.the rally will not last loing. maybe today because we are still oversoild but the bear is here. short the rallies.