Why? Because of all the fear in the air surrounding banks, where everybody is still guessing hether the banks have notes for each mortgage or not. I tend to think they do, just will take sometime to go through all of the selling to find each one. People were not paying their mortgage for the most part and should have been out of the houses anyways. Way too much fear surrounding banks and the market in general.
Also, AAPL will be coming out with earnigns tonight. I have no idea whether they will "blow" it away, but if Citi and JPM are "beating" their reports, I would tend to bleieve that AAPL will blow away theirs.
Spin on the report, even though AAPL is that one in a million compnay, is that despite the bad economy out there, the consumer is still alive, and they will use that to push the market higher. It's too hard to fight the FED and the manipulation going into this report.