Oil is up .40 off of the close. Which is not much considering it dropped 5% today from it's overnight high. It will be interesting to see what tonights overnights look like.

I don't see a 700 point drop in the Dow, though if any big fund starts a selloff it could cascade. Actually I expect a dead cat bounce, about 25% of todays loss...

With the elections out of the way, the known and oderous financial policies of Obama, the unknown of the fiscal cliff and what it portends for taxes and our debt, the unknown of Europe, ratings downgrades in the pipeline for the U.S. that all = uncertainty.

The markets hate uncertainty.

They will never strike a quick deal on the Fiscal Cliff, the democrats are bound to have tax increases, the Republicans are bound to have spending cuts. This won't happen overnight, and whatever they finally put out won't be good for any of us.

And don't forget provisions of Obamacare kicking in next year...

Selling short off of any daily gains (even minimal gains) looks to be the order of the day until some of this irons itself out...