CLOSING SCARE

Not sure if the market volatility in the last hour was caused by another car bomb found in London/ sub prime slime found on the books of the brokers / or quarter end adjustments by institutional investors. It was a very volatile final 90 minutes with the DJIA closing -13, NAZ -5 and the SPX -2. The NDX/QQQQ finished in the green.

Technically, the SPX was 8 points above the 50 day SMA earlier this morning (sigh of relief here) , sunk to 14 below and closed a mere 6 below. Volatility the word as the SPX had a range of 24 points and the DJIA with a range of 210. Hopefully a little quieter next week as the holiday hits.

Closing in the green were oils and metals while brokers, homies, biotech, banks and trannies were the worst.

The biggest losers were BSC MER MS GS LEH MSFT JPM CME INTC NTAP FLEX GILD and S.

Winners included AA IP COP RIMM APOL MRVL WBD PCLN FMCN DRYS FCSX and GSOL.

Volatility indexes hit buy signals as they ramped higher with the VXO up 12% and the VIX up 10% as the markets plunged, but have since come back down as the markets rallied in the final twenty minutes.

Low 2 day RSI readings found at S LINTA JOYG CAT XRX AIG DOW IDSA SYNL TWIN

High 2 day RSI readings found at DRYS BIDU RIMM HURC SNDA DECK APOL SUNW VRSN T BRK.A.

Finally, for the first 6 months of 2007- the winners:

SPX -+6%

NDX +10.1%

DJIA +7.6%

MID +11.3%

XLE +17.6%

OIH +25.1%

VLO +44.4%

INTC +17.2%

AAPL +43.8%

Small Cap Growth +14.4%

BAM +24.2%

ITA +17.6%

Oh, almost forgot, one big loser for the first six months, Cramer's favorite growth stock for 2007, NYX, down 24% for six months. It is what it is.