The usual strategies to start a rally were tried.

1. Jam the futures in the runoff (the 4 to 4:15 time after the cash market closes but futures and index options still trade).
2. Start a rumor of a Fed rate cut.
3. Pump up the tech stocks in the pre-market.

We’ll see if they work. In the meantime, GE warned of a poor quarter, unemployment claims jumped to nearly half a million and durable goods orders dropped by 4.5%. Rate cuts are really working, eh? In the meantime the bailout package is getting done, despite massive public opposition, to keep the “campaign contributions” flowing. If as much attention was paid to the real economy as is being paid to Wall Street and maintaining stock prices, we might make some progress.