Lexmark's guidance reduction is probably the story of the day. Probably makes some good sense to short HPQ on the news.
CSFB is downgrading the Steel sector saying that the demand imbalance in the U.S. is being corrected and that China's economy looks to be slowing. There will probably be some good shorts in the sector soon if they can bounce a bit.
The dollar is moving a bit to the downside mostly against the Euro. The story of India's reserves does not seem to be getting much chatter but I think it will probably come to the fore as people look to figure out why the dollar is breaking down now.
For the record, I have no positions in anything mentioned here.
mike
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