Aug. 24th

The key today will be holding the gains from yesterday.  A one day rally will keep more money on the sidelines and away from a real rally.   Despite the market weakness, financials are doing very well as Bank of America is up 9% from comments by analysts that the stock has been oversold.  I'm not buying that.  As much as the stock has fallen this month, the company is still not worth buying.

A few to read:
Associated Press:  Moody's downgrades Japan From Aa2 to Aa3.  Love these ratings systems.
TheStreet: Hurricane Irene may hit the insurance industry.  Start betting on the Hurricane effects
Reuters:  Sprint to start selling IPhone 5 in mid-October
Yahoo: Adidas unveils barefoot shoes I'm not totally against this concept, but if you do go into this type of shoe, you need to start training over from scratch and give yourself at least 6 months to build up your normal training levels.  Pretty nice you can pay $90 to run essentially barefoot!
Reuters:  Google agree's to pay $500mil for playing Canadian drug ads in U.S.

Gold is definitely taking a breather...with GLD down to 173 after getting over 184 on Monday.  I think it's a good hedge against market uncertainty, but I'd wait until its back to 160 before thinking about buying in again.