BAC

Bank America dropped a bomb via NY times this morning that they may need to raise an additional 30 billion. I am sure there will be more to follow. This may be the first crack in this rally. We will see if the market can shake this off as it has in the last 2 weeks. We have the ADP jobs report at 8:15 this am. With the April jobs report friday . Tomorrow is the stress test report we will be getting several different spins on this , so be nimble. Keep an eye on Ticks and Vix as these indicaters will tell the tale Be nimble , have conviction in you trades or do not trade them. In this market take profits on half and then let them run with trailing stops and move onto the next trade. Do not get bogged dwn on one stock. Keep a view of the market as a whole as it will move as one instrument. Futures are only dwn 6 on the Bac news at 7:55. Be nimble and good luck , Frank. Please get your checks in for the Conference so we can get a good count . It is more important know then ever to add tools to your trading toolbox, the Conference will provide a wealth of information , so please help yourself and come.