Clearing bank's bad apples.

The final showdown has begun with the the administration's financial rescue package and formed what President Barack Obama called "one more critical element in our recovery."
The coordinated effort by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp. relies on a mix of government and private money -- mostly from institutional investors such as hedge funds -- to help banks rid their balance sheets of real-estate related securities that are now extremely difficult to value.

Tracking the Dow on Monday,23/03/09
9:30am:--A 120.0 points gap up.

News of theTreasury Department's plan to relieve banks of bad assets.

10:30am:--An inverted bullish hammer at session high.

Buying interest is broad-based as all ten sectors trade with solid gains.
11:30am:--No sign of pullback.Mini bulls at work.

Existing home sales in February rose 5.1% month-over-month to a seasonally adjusted annual rate of 4.72 million.

12:30noon:--Hangman holding tight at near session high.

Reuters also said that key Republican senators are seeking to delay debating the special taxes on AIG bonuses for at least one week.

1:30pm:--Profit-taking.

FDIC Chairman Bair said that the public-private investment program will likely make money for the FDIC, according to Reuters. Bair also said that 6-to-1 is the outer range of leverage it will provide for the program, Reuters reported.

2:30pm:--Bulls penetrating morning session high.

3:30pm:--The breakout.

4:00pm:--The ascending soldiers.
Time for a victory pause.
Supercharge bulls tearing down the red-curtain.

All the funds are buying to top up position to present a bountiful first quater closing.

A welcoming sight alas!