Continuation vs. Reversal?

That is the major question as we end the trading day.  

Either way, I'm hoping that we'll open with a big gap tomorrow and there will probably be very little sleep as I'll be watching the Japanese Housewives very carefully tonight.

BMO and TIF both beat this morning, so my puts did not come in handy just yet.  I also took a beating on my AAPL calls.  Still, it was an immensely profitable day.

Interestingly, an issue of my Lehman bonds suddenly went in the green this morning and after some research, it seems that another distribution is due around 30 September or so (Reuters).    Kind of excited about that!  E*Trade priced some of my issues @ $0.23 to $0.25 on the dollar.  Overall, I have a good six figure face value worth of Lehman bonds, but not sure exactly which issues will receive distributions.  The expectation is that bondholders will receive $0.18 on the dollar (FT).  The lawyers and advisers received a $2 billion plus windfall from this case, so theirs was a sure bet.  

Tomorrow:

Pending Home Sales m/m

Thursday:

Preliminary GDP q/q
Unemployment Claims


+3.77% SBA
-0.25% Roth IRA

-1.14% DJIA
-2.16% Nasdaq
-1.59% S&P

-0.79% FTSE
-1.73% Eurofirst
-0.69% Nikkei
+0.34% Shanghai
-3.18% SENSEX (Should Nurse ForexDiva step in?)
-0.59% Hang Seng

+2.80% WTI
+3.21% Brent
+1.77% Gold
+0.26% Copper
-3.05% Corn

-1.44% USD/JPY
-1.28% EUR/JPY
-0.38% EUR/GBP

-2.59% DJT
+12.07% VIX

-2.99% 10-Year US Treasury Notes


22% Advancing Issues on NYSE                       |   14% Up Volume
76% Declining Issues on NYSE                        |   85% Down Volume
2% Unchanged                                             |   1% Unchanged
16 New Highs   |   79 New Lows

12% Advancing Issues on Nasdaq                    |   11% Up Volume
85% Declining Issues on Nasdaq                     |   88% Down Volume
3% Unchanged                                             |   1% Unchanged
29 New Highs   |  29 New Lows


Today's Major Headlines:

US, France and UK plan Syria strike 

Russia & China Step Up Warning Over Syria Strike

Gold Closes Above $1400