senate leaders are furious with the House--watch them to take their own action, even if only ceremonial, tonight!

Now that Congress has voted down the fiscal bailout plan, here are some key things to look for over the next few days:

NO VOTES UNTIL THURSDAY: Through War, Depression, Recession and Succession, out of respect for the large New York Jewish Community and Jewish traders on exchange floors, there is rarely--if ever--a planned political/event during Rosh Hashana and Yom Kippur. Thus, no one expects a re-vote in Congress until at least Thursday.

TRADING DOLDRUMS OR PANIC?: Junior traders will fill in for veteran Jewish traders, and a global roller coaster ride would normally predict a domino effect through the Asian and Euro time zones. But if things rebound or stabilize a bit over the next few days on lighter volume it will not mark any serious trend.

ASIAN CONTAGION?: Smart analysts, I mean REALLY smart people above my pay grade have quantified the Asian banking risk to sub-prime loans, CDOs, spillage from US brokers and banks, and come up with this verdict: unlike USA and Euro financial houses, Asian money centers actually have very little direct and only tangential sympathetic exposure to the current crisis. Failure to follow the huge drop on Wall Street in Hong Kong, Singapore, Tokyo, and especially Sydney would actually be a positive event.

MINIMUM PAYMENTS: Watch your mailbox. Bolder ink, larger type, brighter colors, and more frequent letters--all reminding you for your "minimum" payments for car loans, gasoline credit cards, etc, and especially "you will soon be over due" for accounts you have always paid on time or early would be evidence that worse fears of a credit drought are probably true.

HALLOWEEN DISPLAYS: shelf space for ghouls, goblins, warlocks and Pailins are often the mid-point clue between back-to-school and Christmas retail sales. Credit lines tightened or pulled will show up in Walgreens, Target, (not Wal-Mat), CVS...watch for rows of hair dryers, WD-40, light bulbs, and $1.99 Suave shampoo where orange colored "peeps" should have been.