AFTERNOON SWOON

An ugly 2:00 turn around in the markets and the overall down trend reemerged rather quickly- However, anyone buying the QLD at /near the $78 level had plenty of opportunity to book a nice quick profit-I am ending the day flat the index etf's.

The next issue to be addressed is if the 1305 level will hold - my guess is yes and if its tested I will probably jump on it - although not today's business.

Market internals on the NYSE/NAZ never went green and they probably gave many a trader a reason to stay off the long side.

DIG XLE OIH etc getting hit and with a little more downside they may make nice longs-