The idea

that GM was up this morning is positive. I don't care how the rest of the day ensues. The fact that after the non - surprising ugly jobs report, stocks didn't crater and GM finding an uptick shows that finally there is some support at current price levels.

Gold is currently being hammered, but is in an uptrend don't forget, and as Bill Murphy from LaMetropole keeps hammering, gold does not go up on bad economic news. I bring that up because commodities in general are selling off to such a degree that makes no sense. Unless of course, commodities were ONLY supported by hedge funds, imagine that. Just from where I'm standing, I cannot quantify their impact, though I try, and see that such a sell off would imply a serious rally, even if it is only temporary, but not just a week or two, but months.

Of course, we'll see.