THE CLOSE

Markets closed lower but well off the worst levels with the DJIA closing down 89, NAZ -13 and SPX -6.5.

Strongest sectors- steel, oils, metals, ags and homies while internets, retail, gaming and financials lagged.

NYSE- 475 net losers;

NAZ- 375 net losers;

NDX- 30 GREEN;

OEX- 27 GREEN;

IBD- 70 GREEN;

VIX- higher by 4.4% to 18.97;

Very light volume 1.1B shares with Down about 1.5X the up;

Market internals on the NYSE/NAZ were much better than the indexes seemed to indicate and as I mentioned earlier, a turnaround Tuesday would not surprise me.

Crude is trading at/near $120 but the oils and oil service hardly made progress and the last time oil was $120 - these stocks were much higher. Just food for thought.

And how about that Cramer being in Ironman- just tell me one thing- just give me publicity - I could care less about the rest.