THE CLOSE

Looks like Cramer and Hogan, two permabulls come to save the markets by declaring today's dip to be a great buying opportunity.

Not sure if big buying opportunities develop when the SPX drips lower by 15 points from recent highs but who am I to argue with these great market gurus.

It looked like short covering into the close as both the DJIA and the SPX recovered most of the losses in the the final 45 minutes. Very impressive.

Strongest sectors were oils and drugs while everything else was lower led by semis, internets, software, brokers and tech.


Market internals improved into the close climbing from a red 2,500 earlier to a negative 1,000 into the close.

Speaking of the guru's guru, his 3 favorite speculative stocks aren't doing so well - LVLT- is his best pick up a nickel to 5.46 from 5.41, ARNA is down $2.4 to 13.01 or 15.6% and Q is down $1 to $7.61 or 11.6% since the picks were put up on realmoney.com on October 27. Thanks Jimmy.