UGLY UGLY

Markets are getting slapped down this morning as both Ben and W dominate the screens. The DJIA -150, NAZ -27 and SPX -16.

Financials, brokers, banks homies and real estate all getting smoked. Trading higher, the usual suspects- oils and metals.

Crude trading at/near $101.5 and T Boone's position has been getting redder ever since he tried to push prices lower by talking up his short position a few days ago.

Watching Big Ben this morning - a few things struck me- his FED mandate is as follows- "to promote effectively the goals of maximum employment, stable prices and moderate long term interest rates." Not so easy.

WINNERS- LEAP AAPL VMED DISH BIIB GRMN YHOO HAL VZ T BUD SLB COP EP CVX CTRP LIFC NGS RRC SWN SPN FMCN SID KWK;

LOSERS- MXB HMSY FSTR GFIG MRVL AMZN MNST EXPE APOL BBBY EXPD BRCM S LEH RF WB HD MER MS;

VIX +3% after giving a pretty good sell signal the other day;

Down Volume 3X the up;

TRIN 1.02;

Declining shares about 3X Advancers;

So after acting great yesterday, the brokers are getting hit big time with GS giving back more than half yesterday $8+ gain- hmmmm. XLK looking good for a long portion of a LONG/SHORT combo trade.