Futures firm, Asian markets higher.

S&P: +8.9 Dow: +68 Nas: +6.0
Asian indexes were up an average of 1% overnight.
European markets are green.
Oil over $109 and precious metals higher.
MAYBE we get some positive action today.
Of course the trend lately has been a moderate open that deteriorates throughout the day.
People are in the mood to sell, any whiff of bad news is all it takes.
The mantra is, take profits when you get them.
We need some good news, volume, technical support....
But ultimately we probably need one massive scary soul-wrenching selloff before the bottom can be declared to be firmly in place.

Before that moment of maximum pain occurs, there could be a nice 2-3 day relief rally.
The dry bulk shippers are a volatile sector that exaggerates index moves.
They've pulled back quite a bit despite continued recent gains in the Baltic Dry Index (8624).
They should realize outsized gains during any rally. Great trading vehicles.
DRYS, DSX, EXM, GNK, TBSI (reports earnings Thursday a.m.)
http://shipping.capitallink.com/