Oct 26, 2004


We are seeing a good bounce in the financials (Citigroup) mostly because they have been getting abused and to a lessor degree because of the news in Marsh and McLennan (no criminal charges and a new CEO). Not much else to notice. The dollar has stabilized near the DXY 85 level and bonds are a non-event. It could stay this way right through next Tuesday in case your wondering.

You will also notice the rash of news stories about the election that will never end. Maybe but it is probably over next Wednesday and the market will take that as good news.

Position in C calls.

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