Part of the reason the market rallied at the end of the day yesterday was because there were leaks that Obama was going to soften his language on the banks. While I would prefer that the market bottom on exhaustion with no news, I believe that the odds favor the bulls for the coming week.
Even if the market were to fall through tomorrow we would be maximum oversold heading into the seasonally strong beginning of the month. Therefore I believe it is best to get ot of the bulls way and even buy if we do get another scare this week.
As an aside, trading on Barack Obama or any other politician's rhetoric is silly. Politicians huff and puff and say what the public wants to hear, but there is rarely ever any action. The only thing worse is trading on what Jim Cramer says. At midday yesterday he declared the banks dead. They promptly rallied and are gapping up this morning. I will be at meetings all day and will try to post.