NEW RULES

Hard to believe but after Mark Haines gave us all the reasons why the markets would rally from down 100 earlier this AM - it didn't. The DJIA closed down 380 (2.75%), the NAZ down 2.2% and the RUT down 1.4%. Not sure why the gurus at CNBC do not mention how the RUT is out performing of late but I guess they have their reasons.





Best of the sectors were real estate, semis, homies, airlines, biotech and gaming while brokers, oils, retail, banks, defense and large cap value were the worst.





Winners - GM SO LVLT MCHP EXPE SNDK SEPR LAMR NVDA ALTR SBUX B ALY FLIR PVG LAYN GES.

Losers- HDNG SNHY CF HURC TBSI DECK GTI SPEC LEH HIG RF CSC GS F ALL MS C.

The DJIA had 3 winners while the OEX had 4 out of 100 in the green; the NDX far better with 13 out of 100 in the green.



The NAZ had about 2 down for every winner while the NYSE was far worse at about 3.5 down for every up.




VIX up about 20% on the day and the new trading rule is to buy when they are up 20% (today) and sell when they are down 20% (yesterday).



Other stuff:

Ags- POT down 6%;

Banks- AIB C DFS MTB JPM the worst of the bunch;

Brokers - all ugly;

Gaming- all down with exception of LVS which flipped the green side switch earlier in the session after being down a couple of points;

Metals- all ugly;

Retail- COH CROX DECK HD M PVH SHLD TIF TGT WMT all down very big;

Big caps- GE down 3.75%- AXP -3.7% PG unchanged- CVX down 4%- WMT down 4%;

Up to down Volume- 442m up 2.44 B down on almost 3B shs traded- most i have seen;

The QQQQ oscillating between its 20 and 50 day SMA but looks to be breaking through to the downside with support probably at the old low at/near 47.