AFTERNOON TRADE

The markets hit their lows around 12:30 eastern on the heels of the news out of YHOO and Thailand and have been bouncing around ever since.

Market internals still bearish with more than 1,000 losers than winners on both NYSE and NAZ.

Brokers and banks are still red but GS is trying to rally. Techs have pretty much sat at/near the lows since the YHOO news and IWM is trying to pop since the lows, so lots of crosscurrents.

Hoping the old adage of "markets that are down most of the day tend to close at/near their lows kicks in as I am short DOW Futures and anticipate the markets will close near the lows. And guess who is on the cover of Sports Illustrated.