CLOSING ACTION

Markets closed the day at/near their lows after opening strong on the heels of strong action in the tech space. The fly in the ointment all day was the financials with big banks/brokers BAC C JPM MTB WB WFC BSC LEH MS all closing solidly lower. GS/ICE/NYX the strong links in a weak sector. Bottom line, tough to get much traction in the big indexes without the big banks/brokers who claim a large part of the market cap.

Strong sectors included reits, gaming, biotechs, utils, tech and large growth while airlines, homies, brokers and banks lagged. And check the action in LVS/WYNN. Winters at WGRNX must know something as he has been a big buyer claiming its cheap and liking a business that is making money 24/7.

NYSE internals - 700 net losers;

NAZ internals- 740 net losers;

NDX- 33 WINNERS- WYNN GRMN BBBY AAPL NVDA MSFT CELG TEVA BIIB QCOM -LOSERS-UAUA TLAB XMSR SNDK SEPR PCAR S MXIM JOYG BEAS MICC;

OEX -30 WINNERS- EMC AES F MSFT ATI GOOG GS MDT DOW PG- LOSERS- COF MS LEH ROK S C TGT CBS WB JPM EK HD;

IBD 100- 55 WINNERS- JRJC CRNT EXM SNDA BIDU BHP BBL GRMN SCHN ESI DRYS RIO- LOSERS- MHJ DWSN WHQ CF WNR VSEA GTI MA POT MTW ANSS;

VIX FLAT and hangs in under 20;

I guess a little Cramer in me today claiming on Friday that I suspect a sell off this week and claiming today that we may rally. Anyhow, I see the path of least resistance as up after a pullback (1505 on SPX) and plan on playing through NQ futures. And quietly my CELG made another new high.