PreMarks 10.10.11

Futures are set to rally on some loose talk out of Europe about a debt deal between Germany and France.  I've not seen enough yet today to comment on this.   I would say that markets are now, for at least the shortest time period we follow, in rally mode.  The real news will likely start to come in this week when corporations start to report earnings.  We'll see how stocks react to that.  What we don't want to see today is this open get sold.  One other thing to remember is that this is a holiday for banks and the like so the trading today may not be indicative of what we see the rest of the week. 

I'm in and out for much of the next two days in a series of meetings so the next posting here will likely be Wednesday.