I'm writing this from a dark porch outside our cabin along the Taccoa river. There are lightening bugs all around. The light from my screen is lighting the keyboard just enough so I can type. Darkness has fallen on north Georgia. Is it about to fall on the markets as well?

Thursday will be a critical day for the markets. The rebound from the beating earlier in the week has been tepid at best. The setup is there for an "uh oh" moment tomorrow if it wants to happen, and it shouldn't be the bears who are running for cover.

Chairman Bernanke will be getting grilled by some committee Thursday over the alleged pressure the Fed put on Ken Lewis, CEO of BOA, to close the deal with Merrill Lynch. That confrontation will be blamed for the decline in stocks if it materializes.

That being said, it is the end of the quarter so be careful if you're too short. Keep stops in place just in case.

Well that's it from here tonight. Let's see what tomorrow holds.