Assuming that the market doesn’t fall apart today (down 120 points now but I think it may even close positive), today will mark the single best week we’ve had in the market since late December and for the first time in a long time I’m seeing some constructive market internals (new highs/lows, advances/declines and up volume/down volume). Maybe most importantly, the financials are looking better than they have in some time. Without a strong financial industry it is impossible for the stock market to move higher because it is impossible for the economy to recover. Goldman Sachs and Morgan Stanley led the way out, and now others are falling in line behind them. Trust me, the worst is not over in the financials, or in the market, but for the first time since last September I see some signs that the worst case scenario may be off the table…at least for now.

Of all of the government programs, the one that seems to have the most merit is the TALF plan. The Term Asset-Backed Securities Lend...