Market closes pretty ugly as the Mark up folks couldn't get the mojo into the close- can't blame oil today as it drops over $2.5 and seems to be a break in the lower oil higher stocks trade.

Best sectors - biotech, homies, metals, semis tech and gaming while oils, steel, ags, banks and reits lagged.

NYSE- 700 net losers;

NAZ- 300 net losers;

VIX- 22.5 and higher by 6%;

Light volume with losing doubling gaining;

OK - a winner - a volatile day and bulls and bears both could have made money- but the big news - Cramer has called the bottom- and his reasoning- two nice up days Tuesday and Wednesday- great reasoning although two big down days- Monday and today- so who knows- then again Jimmy gives another reason on his STOP TRADING segment- some smart hedgies in London are buying WM and SOV- break in- Doug Kass says those are old positions- comical- and how many times have investors tried to cherry pick the bottom in financial stocks- MER C etc at double the current quote by big smart investors and how bout that big hedge fund guy who thought he was getting a steal on BSC at/near $100-

And how satisfying to Jim to call the bottom on a day when the DJIA closes down 200+. He probably would have been better off with the buy DJIA 10K and sell DJIA 12K - although those numbers have not been hit since he mentioned them- too funny.


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