PreMarks {01.30.12}

Markets are starting out with a general risk averse tone as market participants remain somewhat disappointed in the progression of the Greek bond swap talks.  Of course we've been highlighting for a while now that the market is very overbought so it's possible that Greece is just the excuse for what now ought to be some consolidation.  Having said that, the markets have started something like 3-5 days in the red only to turn around later in the day as buyers came in.    It's possible that end of the month seasonality will prop us up through tomorrow. We'll just have to wait and see.