Crashes Don't Happen on Tuesday

Well. The Dow is below 10,000 and Europe is falling apart. If you are not a bank and have some stinky news for the market, this week is a good time to get it out.

• AMD is getting out of the manufacturing business in a further sign that Intel has won the war of Good Enough
• Ebay is laying off workers and revving up the acquisition mill in an attempt to get profit growth moving again
• Software giant SAP lower revenue outlook
• Netflix lowers subscriber forecast

BofA is a bank obviously and last night they reported a very peculiar quarter. The company, which has been anointed by Government officials as OneOfTheBanksThatWillSurvive. reported 3rd quarter earnings early, missed estimates, cut the dividend in half and announced a plan to sell $10 Billion of fresh equity. This one won't go unnoticed.