CLOSING VOLATILITY

Volatility the name of the markets today as the major indexes were all over the board. The best performing indexes surprisingly were the RUT and the SPX. Small Cap value the best performing sub sector closed higher by .9%.

Strongest areas- utils, china, drugs, biotech, telecom, insurance and airlines while metals, oils, tech and brokers were the worst.

Real carnage in the recent momentum group including VMW NVDA DECK BIDU ICE RIMM LVS GRMN GOOG EBAY and AAPL.

Market internals were almost flat on the NYSE/NAZ while the weak NDX had 45 winners and the stronger OEX had 63 stocks in the green.

IBD 100 stocks took it on the chin with 30 stocks closing in the green - leaders were VIVO IRIS HDB ENS DLB ESRX EDU and CEDC- losers- HRBN STP CTRP DSX SNCR GIGM WFR BUCY and BTJ;

VIX closed lower by 1.4% to 23.6;

Up and Down volume about equal on a heavy day of almost 1.7B shares;

Brokers continue to act poorly with GS and BSC being the worst of the group. Not sure what is ailing GS but it seems to have lust its recent luster.

RSI (2) readings still way oversold at general major index readings near 0;

A rally is coming and selling or shorting at these levels makes no sense to this fish.