Lumber Liquidators (LL) was a market darling one year ago. The stock had run from a 2011 low of $13.40 to a high of $120. Earnings were zooming higher, and the shares fetched north of a 43x multiple. Has the stock bottomed?

December E-mini S&Ps (ESZ14 +1.43%) this morning are up +1.30% and European stocks are up +1.53% as Italian and Spanish government bonds gained on the prospects of additional ECB stimulus.

These early earnings results are clearly showing, we can no longer blame the terrible weather from this past winter as the reason for retailers reporting terrible results. They are doing so because the consumer is feeling the pressure from the excessive debt that they piled up over the last 5 years

European bank stocks plunged with Banco Espirito Santo down 11% and Espirito Santo Financial Group SA, which owns 25% of the lender, down 9% before trading was halted.