UGLY IS UGLY

Markets closed way down despite the perky brokers as the DJIA was down 246, NAZ -49 and the SPX -19.

Strongest sectors- metals, ags, financials, real estate, banks and brokers- laggards were tech, airlines, retail, telecom, emerging markets, semis and gaming.

NAZ/NYSE- 2,200 net losers;

OEX/NDX about 20 green on each;

IBD 100- 18 WINNERS;

The good news is the SPX/DJIA /NDX all closed above their recent lows and Monday is the beginning of another week. Markets can't keep up this activity for they will be trading near zero by late spring. Will try again Monday and hopefully a better week for this smelly fish.