PRETTY PRETTY VOLATILE

A typical wild day on the street with the DJIA moving down about 230 near the open and moving up to +90 and closing +35. RUT very strong closing +1.85% and the NDX +.9%.

Strongest sectors- metals, homies, biotech, small caps, oils, real estate and trannies while emerging markets, insurance, drugs and internets lagged.

NYSE- 475 net winners;

NAZ- 640 net winners;

NDX - 60 GREEN;

OEX-55 GREEN;

IBD- 75 GREEN;

WINNERS- ADSK LRCX AMGN STLD MRVL ISRG ATI UNH COF BHI SLE NYX MER CI BA EOG CHK GG RIMM TISI ARGN PQ FSTR WFR NDAQ RRC;

LOSERS- TTES HRBN MR HDB GIGM LVLT HANS YHOO WFMI UAUA BIDU AKAM INFY LEAP F WB S GM KFT CCU CSC TWX;

VIX- FLAT;

TRIN- .85

Up volume 1.5X Down volume;

RSI (2) levels:

SPX 65

DJIA 70

NAZ 75

NDX 78

RUT 77

MID 76

XLF 53

XLE 64

GLD 95

SLV 88

USO 98

Here we go again as markets moved up when most didn't expect it. Some nice comments from Barney Frank and S&P but I suspect their is still plenty of downside left.

Technically we bounced between SPX 1320 and 1280- so the lows held again. Brokers earnings next week and that shall be pretty pretty interesting. Bad news coming just don't know from who or when.