Mellow Yellow Monday; Black the Week

Today we'll experience a cover-the-shorts rally and from all indications, we might get a 200pt lift. That's the best this week will bring. By week's end, regardless of mixed signals from the US economy, the week's cumulative should be down by 250points. The USD will gain another notch, and European malaise will continue to batter the credibility of the Euro-Area. Best to short the Euro.

What can the IMF do? What are its sources of income? Should one chuckle. Not really; it's pathetic that most of the market forget that both the ECB and the IMF are recipients from donor sovereigns.

Not a week to enjoy!