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Sell Off Into The Weekend Seems Likely

|Includes: OIH, SPDR S&P 500 Trust ETF (SPY), USO

It's about 1:38pm ET. The W.H.O. has declared Swine Flu a pandemic.Fed Goverenor Lockhart has said the investors are getting ahead of themselves. Friady is tomorrow. The Unemployment news still had 601K new claims. The retail sales figures seemed good at first glance, but were actually very bad. The seemingly good part was caused by the higher gas prices, plus the higher number of car sales due to dealerships going out of business. Generally retail numbers looked bad for the everyday retailers. Hence they were bad for the economy. The business inventories were down more than expected (-1.1%). this is hardly the sign of an upswing in the making. The market has started to turn. I am betting there will be a big sell off this afternoon. The market ran up 200 points from its bottom today to its high. Time to give back some. This is not a red letter news day. Oil is also still going up. Most people believe this will hurt the US recovery at the current prices (and they are going up). Get ready for a wild ride today and tomorrow.