THE CLOSE

Quite a day as the DJIA closes up 208 and the SPX 23 after being higher before more MBI FGIC XL downgrade rumors/actions. And in the aftermarket- the stock that can't be mentioned - well GOOG- is off about $30 as I type on some dissappointing earnings numbers.

Strong sectors- homies, retail, gaming, industrials, banks, airlines, brokers and trannies, while oils, metals, semis and drugs lagged.

Key stocks- 35 /40 higher- GREEN- MA TIF BIDU UA BAC ISRG WYNN POT CME LVS- RED- GOOG NVDA BG RIMM KLAC MER MO;

NYSE- 1,300 net winners;
NAZ- 750 net winners;
NDX-70 WINNERS;
OEX-75 WINNERS;
IBD 100- 67 WINNERS;

VIX- down 5% and about 7% under the 10 SMA;

Up vol 6x Down;

TRIN- .64

Today's SPX high- yes 1,385 again and pretty clear where resistance is for now. RSI (2) levels also showing the markets a little extended in the short term (most major indexes near 90).

One oddity on the screen today- the lack of MO in GS. While the DJIA was +250, GS was barely up more than $2.5 anytime during the day. Not sure why as all the banks did great and the brokers were also good with the exception of LM.

Stay tuned tomorrow as we could actually get SP downgrades on MBI and ABK and that will be interesting.