THE CLOSE

Buy the dip was certaintly the play of the day as the DJIA closed +100, NAZ +45 and SPX +13.

Best sectors-

metals+5%, MOO+5%, oils+3%, tech (MSH)+3%, semis+2.5%, internets (HHH) +2.2% and banks +2%-

Lagging- airlines-3%, reits -2%, utils-2%, retail-1%;

Key stocks- 25 out of 40 higher- leaders- BIDU RIMM POT BG NVDA ICE GRMN CME AMZN MSFT; losers- CELG AAPL LVS BAC MER WYNN TIF IBB MS MA GE ISRG KLAC PG;

NYSE- 800 net winners;

NAZ- 450 net winners;

NDX-60 WINNERS;

OEX-55 WINNERS;

IBD 100- 60 WINNERS;

WINNERS- MOS TKC CF AGU CAM BIDU MICC AKAM QCOM CTXS NTAP COF AMGN MSFT GD;

LOSERS- EXC AEP TGT SO T BDK WMT APPL CNH GENZ SONO EBAY PETM UAUA EXPD VRTX AMLN CELG;

VIX- down 5%;

TRIN- .96

Up volume about double Down volume- total about 2.1 B which is pretty fair;

Everything back to normal as oils, metals, big cap tech lead higher while airlines, real estate and retail lag.

Technically, looks a bit difficult as we continue to bounce off the short term bottom. We could get to 1,380 as that was a prior support area.