9:00am (EST)

The bulls and bears traded heavy blows on Thursday as the market opened lower before recovering by Wall Street’s lunch break.  Trading was choppy afterwards but the bounce came on renewed hopes Spain would get a bailout to assist its troubled banks.  Of course, the water-cooler talk was just that as the rumor was quickly shot down.

The rebound erased the 1% losses the indexes were showing but the bears still won the battle despite the bulls strong resurgence. (continued…)