Fundamentals Are Bad This A.M.

The Consumer Confidence Board missed, also the inflation rate index climbed to the highest levels since Oct. 2008.

The Case Shiller report shows what we already knew, housing is in a double dip recession.

Meanwhile traders are in the market on some of the highest margin ever in high Beta Stocks,  a very dangerous position especially given all of the Fed presidents speeches which are taking on a very hawkish tone finally. Today it was Bullard in the beautiful city of Prague suggesting that 2011 will likely be the year the Fed will start unwinding accommodative policy.

All in all, not much to be bullish on.