THE CLOSE

With all the garbage that CNBC does cover during the day, did they once mention that the RUT 2K index was the big winner closing up 2.3% while the DJIA closed slightly red and the NAZ/NDZ way red. I guess no explaining why folks want lousy, non global small caps.

Strong sectors included banks, brokers, airlines, real estate, small caps, value, homies and retail while metals, xchanges, gaming, oil service, tech and internets lagged.

Market internals closed red with the NYSE with 800 net losers and the NAZ with 375 net red.

The OEX with 40 up and 60 down while the NDX with 2 down to every 1 up.

Volume back to the 3 B level with 1.3B up and 1.66B down.

Vix closed near the unchanged level after being up over 20% near the market lows.

XLF, my ETF long, closed up 3.7% while BSC finished up 13%; LEH +6%; and MTB+8%;

Metal stocks the real losers of late with FCX PAAS SSRI BHP all down huge over the past few days- probably the next area where one will find big winners as all those who had to sell have probably sold.