Ugly. It's all ugly.

How quickly we get to the point where a 1/3 cut to next quarter's earnings just doesn't phase us anymore. Heck, in some cases it's a reason for rejoicing since it isn't worse.

Home Depot rallied on bad numbers. Okay, part of that was because it's a Dow member and the Dow was rallying, but that doesn't account for it all. HD was up 3.6% vs 1.8% for the Dow. Gotta love that kind of reaction to a 31% fall in Q3 profit, even if it was partially because it didn't stink as much as expected.

Today's rally was brought to you courtesy of the letters HPQ. Hewlett Packard was able to pull off good numbers. It can happen folks. Let's see a little more of that. It will be a lot more fun. I promise.