Today is just a recovery day for those industry groups that got extremely oversold yesterday, plus a day when Fed head trader Dino Kos gets to sell a little of the People's gold just to let them know who's bossman.

The Econ calendar is pretty full. Things will swing into action after the 2pm release of the already doctored Fed Minutes. Let the games begin.

The big economics stuff comes out Thursday and Friday. How traders handle that will be an indication of how solid or shaky is this market.

Overnight I didn't see much hope from the Asia-Pacific markets, but who knows, it can go either way here, which is to say the broad market can slide quickly or it can sidetrack.

This is the slinky toy scenario.

But if you can picture a slinky toy, then you can understand the notion that the further sideways it jumps, the further down will be the next move when it gets to the edge.

This is a point where the sell-side banks and mutual fund industry start putting their heavy duty guns into action. You see, they lose when prices fall, so they have to tell you to hold and prosper, regardless of what those people are doing in their own accounts.

Since they get to see our order-flow (and trade against it), don't you think it would be appropriate for us to get to see theirs (and trade against it).

I mean this is a democracy and a free market system right? Or did I just read that in a fiction book?

Oh maybe I'll go practice my golf swing until 2pm. Isn't it strange when WE have to wait on THEM?

And btw, gold stocks are not crashing today along with bullion spot and futures prices (down -$14.00).

And also, I see the yield on the 2-year Treasury Note is up to 5.00 pct.