NOON SWOON

Big Ben finishes his Q and A and folks clearly unhappy with all that was said. The DJIA -132, NAZ /SPX -20.

Strongest sectors- biotech, retail, real estate and metals while weakest are ags, insurance, brokers, banks, oils small caps and gaming.

Key stocks- generally lower- leaders- GRMN TIF AAPL CELG MA MCD NVDA MSFT - laggards- UA POT MER ICE MTW BG DECK LVS MS MGM NYX WYNN BIDU;

NYSE- 1,750 net losers;

NAZ- 1,220 net losers;

NDX-35 WINNERS;

OEX-15 WINNERS;

IBD 100- 15 WINNERS;

VIX- finally getting a little boost and up 5%;

TRIN- 1.5;

Down volume 4x Up volume;

This morning's opening rally was sold quickly and the markets have been ugly since the Philly Fed number came out near 10 AM. Aftenoon tries at rallies have been sold and will probably continue to be sold.

Very ugly action in MOO as the ags get destroyed- POT MON AGU CNH MOS CF all down about 10%. Safe havens in the DRG industry - nah- SGP MRK both down over 5%. Seems like nowhere to hide now except for cash.

I suspect a huge rally is coming but have been expecting the one for about 80 SPX points. And congrats to George W. Bush who started his career as POTUS with the SPX at 1,343- now he is up 6 points or .5% for 7 years.

Congrats to Adam for a great Live Blog session during the Big Ben talks. Fun and informative.