CNBC NONSENSE

Markets continue to bounce around after fleecing the opening print buyer. DJIA back to 12,000 and holding, NAZ red and SPX slightly green. Congratulations to all the traders who shorted the opening exhuberance.

Sectorwise, leading higher include drugs, retail, a recent flip to green for oils, biotechs and brokers. Leading lower are tech, semis, internets and financials.

Market internals are flattish on the NAZ and green by 900 on the NYSE- kind of weird to be that different.

As for the charts, note the recent outperformance of the small caps in spite of what Haines, Burnett et al tell you and check the outperformance of the big caps between May and August, yes, they outperformed but still went down and you would have done better with cash. I repeat, if you think big caps do better than small, go to the 5% money market fund.