It is a Bad Day for the Markets

• “It is a bad day for the markets.” – Erin Burnett.  Starting off grim this Thursday.  I believe today is the first day of a potential IBD “follow-through day” for Monday’s move up, but it’s not looking good.  What would be good?  A reversal on high volume. 
• And don’t look for Toyota’s brakes to stop this correction!  Now, Toyota’s Prius hybrid brakes being looked at.  Toyota’s estimated recall cost is $2B.
• President Obama calling for “civility in Washington.”  Uh, isn’t this the guy who has been trash-talking the Republicans? Just last week he was talking down to the GOP.  Just yesterday!  In every speech, he blames every problem on “the last eight years.”  He needs to amend that to “eight of the last nine years, excluding 2009.”
• The market does look forward, or sometimes has a news of the day panic attack, but looking in the rear-view mirror, we see that retailers posted strong numbers in January.  So the economy is improving.  Retailers continued their comeback, posting better-than-expected same-store sales in January, with long-suffering categories like department stores and apparel retailers finally showing signs that consumers are coming back.
• Thursday already!