This is the wierdest market; alot of buying bad news (november job report), and ignoring the "good" (first TARP).
Although similar responses have occurred in reaction to interest rate changes, this infinite, unregulated, unknown, and unpredictable parade of government interventions is new territory. You just don't know what to expect - there are no charts, no parameters, just a bunch of politicians (now new ones, at least one of which doesn't pay his taxes), some rag paper, and green ink. You can't say when, how much, what it's for, whether it will be spent for that, or if it will work. Just doesn't add up to an informed investment background. At some point, it adds more confusion than its worth to digest, and the fallback are traditional technicals, earnings, outlooks, macroeconomics, and the like - none of which are particularly good in the near term, or even intermediate.
I think there will be problems with the passage of the stimulus package to begin with, and making it work will be another matter; good luck next week, or thereafter.
I see the market cratering further. Gotta log off of this thing and find some sand to stick my head in.