Good evening.

I think this next week will likely bring the “capitulation” panic selling in the market that the technicians have been looking for.
Stocks face uphill battle as budget, retail sales loom

NEW YORK (MarketWatch) — U.S. stock investors have little to look forward to in the week ahead, when Washington budget maneuverings and the unfolding saga of some of America’s largest companies are likely to vie with retail-sales data and a handful of corporate earnings.
“The markets will largely move around interpretations of things that moved us before: the impression of things coming out of Washington and the budget debate,” said Art Hogan, chief market economist at Jefferies & Co.
Lawmakers are working on a spending bill for the government’s operations for the next six months. Investors will be looking for clues of how the budget will affect various industries, like health care, Hogan said.

I figure we will lose another 15% or so off the market. That will put the market down about 35% since Obama was sworn in.

Rumors are starting to move that Obama is thinking about getting rid of Geithner, cause the incompetance it’s getting embarassing.