False Positive Confirmed

Looks like all the bulls should have stayed on the side lines yesterday. Today, just about every index that I have been reporting on has taken a dump. The only exception to the malaise was Japan's Nikkei. It apparently didn't get the memo about China and continued to rally on news that the U.S. had a positive day.

Asia:
Nikkei => 7,433.49, +142.53, +1.95%
Hang Seng => 12,211.24, -119.91, -0.97%
Straits Times => 1,518.64, -25.70, -1.66%

Europe:
FTSE => 3,529.86, -116.01, -3.18%
DAX => 3,695.49, -195.45, -5.02%
CAC => 2,569.63, -106.05,-3.96%

U.S.:
Dow => 6,595.32, -280.52, -4.08%
Nasdaq => 1,299.59, -54.15, -4.00%
S&P => 682.56, -30.31, -4.25%

As for me:
AMD => 2.15, -0.15
AMD DG => 0.10, -0.02
BKC PX => 2.30, +0.45 (Bought to Open @ Limit 1.85, Stop 1.30)
F => 1.78, -0.09 (Sold @ Stop $1.78)
HRP JZ => 0.90, -0.25(Sold to Close @ Market, Contingent on HRP < mips =""> 2.00, -0.05
NG => 2.79, +0.21

Further reports from the Associated Press fills in the why of this market tumble.
Boeing Reports Lower Orders
General Dynamics Cuts Production and Jobs
GM Survivability Questionable
Retailers Report Declines in Sales, Except Wal-Mart
12% Behind on Mortgage or in Foreclosure

If it wasn't for this one ray of sunshine, the market may have tumbled even further.
Jobless Claims Unexpectedly Drop

Apparently analysts expected the claims to drop only 20K and not the 31K from the 670K of the previous week. But don't celebrate just yet, the banks still haven't solved their issues. I still see the probability of further losses before a general market recovery can be claimed.

That is my opinion, you can take it or leave it.

Disclaimer: I am not a stock broker; I am not a financial advisor; I am not recommending to you what to buy or sell. I am just an opinionated investor. If you decide to follow in my footsteps you are taking risk. It is inevitable that I may be wrong. So if you are going to follow in my footsteps that is your own personal decision. I am not responsible for any loss that you may, and probably will, incur regardless of my opinion.