"Don't forget the BKX down 19.71% as these Wallstreet banks will not lead as they have for the last 25 years and the market must get this through their thick skulls."

I agree. What we may be seeing is the discounting of a new administration that has a bit more resolve that the TARP and CRAP are to be used sparingly, openly, and with oversight. This is enough to make people want to short the whole BKX. And the markets will folow any significant move in the banks.

Don't know what to make of it, but the gap between WTI and Brent closed a bit more today.