I prefer a liquid lunch. Not the alcohol kind, but a quick fruit and protein shake so I can stay at the desk.

The market is up on renewed mortgage refinancing contracts, better than expected ADP #’s, higher commodity prices, and hopes within the banking sector.

Leading the percentage gainer board is:
NYSE

EXM,GNK,PAS,TNB, JLL,CBG,NLC,GJR,MTL,BCO

NASDAQ

RSYS,TZOO,FBMI,SOLR,EGLE,MVIV,CVLL,CEBK,TSRI,ILMN,ALDA,OGXI

DOW JONES MOST ACTIVE

BAC,C,RIO,GE,PFE,JPM,DIS,WFC,TSM

NASDAQ MOST ACTIVE

QQQQ,INTC,AMAT,CSCO,MSFT,DRYS,CMCSA,ORCL,ERTS,ATVI,COST

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As reported earlier Obama has placed pay caps of $500k on CEO TARP TAKERS. Plus they will not be able to take restricted stock compensation until tax payer monies are payed back.
He further stated that we can not piecemeal our problems and that we must act quickly to address our energy needs.

President Barack Obama and Treasury Secretary Timothy Geithner today announced the government will require financial companies getting rescue funds in the future to cap compensation of top officials at $500,000 a year.

“In order to restore our financial system, we’ve got to restore trust,” the president says in prepared remarks, as the administration rolled out new rules for companies that seek “exceptional” assistance from the Treasury. “And in order to restore trust, we’ve got to make certain that taxpayer funds are not subsidizing excessive compensation packages on Wall Street.”

Obama also urged Congress to finish work on economic stimulus legislation, saying in remarks released by the White House that a failure to act “will turn a crisis into a catastrophe and guarantee a longer recession.”

Are you a bull or bear on emerging markets ?

For emerging market equity investors there is no hopeful outlook for 2009, no rallying cry of “the darkest hour is that before the dawn.”

In the words of one industry veteran: “It is darkest before it gets pitch black. … The visual is the bottomless pit,” emerging market stock broker Jonathan Auerbach, co-founder of Auerbach Grayson, said of present market conditions.

Along with partner David Grayson, the New York-based specialist emerging market equity broker turns over $100 million to $150 million a day for its 500 U.S. institutional investors trading stocks around the globe — and around the clock.

“These are really terrible times in terms of trading,” Auerbach told Reuters in a recent interview off the trading floor in a midtown Manhattan loft.

Europe closes higher on commodity price improvement, earnings, and continued talks in the U.S. on resolving the banking crisis.

Pete Najarian states call options are rising on FITB.

Fifth Third Bancorp is attracting heavy call activity as it reaches new 52-week lows.

FITB stock [FITB 1.65 -0.14 (-7.82%) ] is but a shadow of its $28.58 high from last March, dropping 70 percent last month alone and closing yesterday only a nickel above its new $1.74 low. That was enough to draw options traders, as calls outnumbered puts by 10,000 to 1,700.

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