auto bailout negotiations fail in senate, page-146

Here is an interesting correlation

Regarding volatility, if the S&P is at 900 and the VIX at 50 (current levels are 899 and 54, respectively), the market is pricing in a two-thirds chance the index will trade between 770-1,029 over the next 30 days.

Just thinking differently - definitely today's reaction so far for the auto bailout failure has not been very bad at all - may be the markets are absorbing all of the bad news or expecting that the white house would interfere with some emergency loan or money from the TARP.

I have a strange feeling that the US market is not going to free fall tonight

Fingers crossed

Sara