For what it is worth ?

- S&P cut GE's credit ratings from "AAA" to AA. Do you believe the credit ratings anymore ? Before AIG went in the hands of Fed, it was "AAA".

- Moody's came up with the "The Bottom Rung" - list of companies on the verge of default.

- According to some sources, what we have for the last 3-days is so called "relief" rally. Does this mean the system is cured of all the "gases" it had built over the years ? Well as long as we have Cramer's who advocate of "selling into the rally" and "protect yourself against the nightly risk" this will fizzle out. More macro view is given by http://www.forbes.com/2009/03/11/recession-depression-bear-market-equities-opinions-columnists-nouriel-roubini.html?feed=rss_news Nouriel Roubini here. And I agree with that view. If past or "rearview mirror" is any index into the future this year will be filled with a lot of "bear rallys", until things stabilize for good. So if you are a net buyer of stocks best to hold your horses and wait for the kill. Remember the bottom has not reached till the point people are just afraid to see into the valley anymore. This includes the media and all the talking heads on tv.

- ACAS seems to be picking up steam and I have turned a bull on ACAS after reviewig their 10-K.