WHY?

So why are the BKX up almost 2% and the brokers XBD down more than 2%. Real carnage among the brokers as BSC(-2%), LEH(-3.4%), GS(-2.75%), JEF(-2%) and MER(-2.75%).

Not sure, but I do know that I made a lucky sale of JEF earlier this morning. The SPY is unchanged and the Volatility is 1/2 of yesterdays wild $2 range.

The market internals have been all over the board and now stand at 500 NYSE stocks to the green and NAZ flat.

OIH has been up as much as $5 today but has now flopped back to +$2.00.

The precious metals continue as the best performing sector as both the XAU and the HUI are up over 3%.

Glad I didn't take any new trades today as the action has been choppy and difficult. I am exhausted and done for the day.