WACKY WACKY

Markets closed the day up 153 on the DJIA +1.1% after being up about 200, NAZ +51 or 2% while the recently maligned RUT was the big winner on the day up almost 3%.

Markets also dipped to flat in the final 90 minutes as rumors were flying that GS was going to have something ugly to say after the close. GS denied and markets turned around to close well.

Strong sectors included homies, real estate, reits, metals, airlines, brokers and small caps while defense and utilities lagged.

Winners- BRCM DISCA CSCO UAUA EXPED FAST WFMI F LEH SLB ATI AES AXP EK MER DO HD PCLN TBSI WNR ARD FLIR GMCR.

Losers- AAPL AMZN WRNC GTI SNDA SNHY ALY CNYO LAMR INTU APOL LINTA CHKP S GENZ RTN TYC S CBS HON TXN.

Market internals remained strong despite the dip and closed with about 2379 up and 959 down on the NYSE and 2133 up and 972 down on the NAZ.

The NDX closed with about 80 up and 20 down while the OEX wasn't quite as good with 70/30 ups to downs.

Volatility indexes all over the board and closed near the unchanged level but still oversold and under the 10 day SMA.

Other stuff:

Banks and brokers all higher;

Biotech all higher;

Gaming turned mixed mid day as the profit takers did their thing;

Metals up big as HUI was plus 3.5% - SSRI PAAS GG FCX BHP all good;

Oils about all higher cept for HAL and HP- leaders- CNQ EAC SLB SU VLO XTO;

Real estate- best day in years as RWX CLI CTO DEL FCE.A JOE SLG TRC all closed nicely green;

Tech was green except for AAPL AMZN IBM and TXN;

Very heavy volume with 2B up and 660 down on the NYSE;

Interesting how the SPX turned down right at the 20 day SMA while never quite making it to the 50 day SMA. More selling into the 1,500 /1,510 level would not be surprising as traders probably fade the down trending 50 day SMA.

Some great stuff from CNBC today as they declare the great move in real estate/homies is either a short squeeze or a bottom. Thank you.