Q4 07 Earnings from C and MER were expected to bomb so badly they could be best described as "Shock and Awe" earnings announements. Bearish Sentiment preceding these announcements were at an extreme not seen since the Oct 1990 war in Iraw that prompted a 20% correction in the stock market. Escalating investor angst with respect to Q4 earnings from leading financials would surely pressure equities lower. Once C and MER report earnings and the selling pressure abates, there should be plenty of cash on the sidelines from excessive pessimism in the stock market in the first half of January 2008