The markets opened on a modestly positive note but after two hours of NR trade, they took out the ORL and swooned for a retest of Thursday's lows. The middle part of the day was a chop fest, followed but a vertical move back up to the morning range. Too bad we couldn't close on a positive note as prices quickly retraced 38% of the move in the last half hour. Fed member Yellan's bearish comments re: inflation and the banking/housing sectors, and concerns over FRE and FNM need to raise more capital, weighed.Asian markets sharply lower across the board on bank loss concerns. Emini futures trending lower since 8:00 P.M. EST.
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