Market Update

The markets are in limbo with low volume so far. There is a general weakness theme to today's action as there have been some attempts to advance but each time they were sold back down.

The consumer confidence numbers came out earlier and it was another decline. Consumer confidence is eroding and that is always a concern for the markets because it is a direct connection to the consumers wallet/pocketbook. When consumer confidence weakens so does the markets ability to sustain upward movements.

So far the markets have been floating with no solid direction (almost sounds like a broken record). We don't like saying it anymore than you like hearing it. But it is what it is.

Just a few moments ago Vonage (VG) had their share halted for pending news. That news was Vonage violated Sprint's (S) patents, Kansas jury decides, Vonage must pay $69.5 mln for using Spring inventions, jury says. Well, this may be the end of Vonage now.