Bailouts & Rate Cuts

Good morning. Premarket futures are mixed ahead of the two-day Fed meeting and expectation for major developments on the bailouts and stimulus this week. Word has it this morning that both the Bush Administration & Obama are weighing much larger rescue efforts than originally envisioned.

Premarket gainers: TLAB, SWKS, TBSI, DRYS, EGLE, GNK, EXM, CIEN, ACGY, EXEL, GM, F, HON, GE, STO, SLOW, GOLD, FSLR, GET, MF, CPE, TCK, & XL.

Premarket losers: HUN, OCNF, RSTI, HSNI, AKRX, GDV, CDNS, GTE, NKTR, ABII, AAPL, DHI, & KBH.

We have a relatively busy week for economic data with the NAHB Housing Market Index due at 1PM. As for the Fed meeting, expectations are high that we'll see as much as a 75 basis point cut tomorrow afternoon.

Much like last week, the political-based market will continue with the focus on the latest moves by the government to repair the economy as well as earnings from financials. Technically, lows his on the 5th of December (S&P 820) and the highs hit last Monday (S&P 920) set the trading range and stops and trade triggers will be set accordingly with a positive bias overall as we trade the remaining days of 2008.

Go make it a great week!