Mighty Mouse (IBM) saves the day

Jeff Bailey of Option Investor wrote in his piece tonight rather brilliantly that, "Saturday Night Live groupies will remember comedian Andy Kaufman's lip sinking of the Mighty Mouse theme song, and at last night's close, even this morning; investor psychology looked ready to call it quits as the Financial Sectors SPDRs (XLF) $9.40 +16.33%, lead by the S&P Banks Index (BIX.X) 84.66 +12.71% were making new lows at 10:30 AM ET."

"But I'll argue that perhaps, the BIGGEST weighted stock in the Dow Industrials (INDU) 8,228.10 +3.50% "Big Blue" was just what BULLS and even some SHORT COVERING BEARS needed for the major averages to recoup the Tuesday's losses."

For those that want some humor here is that Andy Kaufman Video.

Mighty Mouse