THE CLOSE

After chopping around most of the day, the markets closed on their lows as higher oil put a bit of a crimp on equities. Other explanations could be that mark up folks don't like to mark up on the last day of the month/quarter or maybe that equities are no longer looked at as under valued after the huge run from the summer lows.

On Monday we have the beginning of the month end money which should give the market a bit of a bid although maybe some folks will look at the calendar and see October and decide not to put money to work just yet.

Sector winners today were oils and some brokers. Big losers were retail, semis, metals, tech and airlines.

The semicondutor stocks were down all day and were giving the hint that this market was going nowhere today in spite of the CNBC cheerleaders wishing for the DJIA to stay above the old highs. No such luck but I am sure we will hear from them again on Monday.

Market internals were flat most of the day but closed with about 1,200 more losers than winners.

Volatility indexes didn't budge much as the VIX/VXO combo closed at 12/and 11.35 respectively.

Be careful out there, my gut says oil may have another day in the sun and if it does, this market can fall faster than it went up.