Just read that the QQQQs and the SPYs can’t be borrowed to be shorted. This is because the insider boyz have been shorting them naked (not bothering to actually borrow stock to sell) to the extent that the “fails” (to deliver) have gotten out of hand. Doesn’t this industry realise that eventually they are going to get creamed by the outrage when they are found out?

BTW, CDPD access to the Internet (9.6K over a cell connection) is just about useless, I found out on this recent trip. Sloooow.

Economic data - notably a terrible durable goods orders this morning, declining chain store sales and consumer confidence yesterday - are showing that the consumer is probably rolling over. If that is the case, this bubble is history. Futures seem to agree.