Mon 09.05.11

Right now, I am burrowed in my house, waiting on Tropical Depression Lee to pass (as my good friend Michael can attest, there's never a better time for a bloody mary then when a tropical system comes through).  The past couple of weeks, I have repeatedly stated that the market would be very volatile, due to Congress being on vacation, the market awaiting Washington's response to create jobs, short-selling ban on financials in Europe (which is like trying to put a band-aid on a waterfall) and Europe continuing to kick the can down the road. Well, after last Friday's dismal jobs report, Obama has begun working the circuit with a Labor Day speech in Detroit, specifically discussing jobs and getting the economy jump started. But, tomorrow, expect the market to move its focus back to Europe.