The storyline in my view is that we continue to see good earnings and a worried set of economic data. The underlying fear is that the earnings will fall because the economy simply is stuck in a rut or actually slipping backwards. The larger picture is that we are seeing growth elsewhere outside the U.S. but the U.S. is seen as the economic driver of the world still so worries here project to worries everywhere - still.

We had a durable goods number this morning that was negative. Market has been up for a while now. A bit of selling is due and yesterday was a misdirection day - bad internals but flat numbers as a few stocks held the broad market indexes up. I would expect some selling in here somewhere - still.

I continue to buy on dips and sell on rips higher. That's the theme. I don't expect big moves that stick either way so you have to look to buy the best and sell the worst. It's a reoccurring theme here for me.

I'm very curious to see if the dollar can build some strength again. If it does, it will be a big deal. If it just floats around, it won't matter.

Lastly, I've not talked about bonds much. One more push higher could set up a nice short there.