Two Fund Holdings Being Added to S&P Indexes

CF Industries (CF) had a nice pop to mid $80s this morning but that is being washed away now in the selloff. It looks like two fund positions are getting nice roles in S&P indexes.

Jacobs Engineering (JEC) is moving from the S&P Midcap 400 to the S&P 500. And taking Jacobs place will be CF Industries (CF). Nice to see; doesn't change the fundamentals though - but just noting it.

At this time technical support has again been broken on indexes (save NASDAQ) so it could be rough sliding again for the near term. As I have been stating for weeks, this "kitchen sink" quarter story we have been sold is a total joke - Merrill is showing us that this morning. The financials are 20% of the S&P 500, based on an era of no risk, cheap credit, and see no evil, hear no evil. I can see them going to sub 15% in the next few years. And let's trust in the fact that we have a lot more sinks coming down the pike - pick a room and you will see a sink that has to be thrown out in coming quarters. Expect more Fed flooding the system with printed money and more cuts. I've been saying a 100% chance of cut since the seconds after the last cut, and now I am open to the possibility its going to be 50 basis instead of 25. The financial system is really in serious trouble, no matter what they are trying to sell us. Lack of transparency kills all trust.

Long CF Industries, Jacobs Engineering in fund; long CF Industries in personal account