Today's wrap up.

Tim @ Slope of hope has such an even tone for the most part..even in the face of the events that are unfolding..

http://slopeofhope.com/2010/05/soap-opera.html

My favorite:

BusinessWire: 

NYSE Unveils New Slogan:  “The Market Can Stay Psychotic Longer Than You Can Stay Curled Up In A Fetal Position”

http://www.zerohedge.com/article/headline-roundup-reactions-may-madness?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+zerohedge/feed+(zero+hedge+-+on+a+long+enough+timeline,+the+survival+rate+for+everyone+drops+to+zero)

Yen to blame?

As of this writing none of the big trading houses has fessed up to adding a zero on an e-mini electronic order. We shall see. I think it was connected to a move in the Dollar/Yen. When that break occurred it triggered some algo machine to sell. And that happened when the NYSE had a halt. It was computers that are behind it. Mary Shapiro at the SEC has been very reluctant to tackle this issue. Not any more. Look for her to make a statement shortly. The axe is going to fall on an important part of how the markets function.

http://www.zerohedge.com/article/i-l-l-i-q-u-i-d-i-t-y?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+zerohedge/feed+(zero+hedge+-+on+a+long+enough+timeline,+the+survival+rate+for+everyone+drops+to+zero)