THE LONGS

Wild day in the markets as the DJIA turned around a few times closing down 100 with a 300 point range, SPX -13.5 and 35 point range and the NAZ slightly higher with a 70 point range- and that is with a $6.5 sell off in the price of crude.

Suspected getting long was a bit of a stretch and just glad I didn't pull the trigger - markets were moving to fast to make any real intelligent decision- and tomorrow another day.

Banks and brokers were again sold big in the final hour as the BKX closed down 3% and the XBD down .67% after trading higher a good part of the day.

And thank goodness they will make naked short selling illegal- oh it is already illegal - what a joke;

NYSE- 1600 net losers;

NAZ- 600 net losers;

VIX - hit a high near 31 but closed at 28.5- hardly a big blow off top;

TRIN- .84;

FRE/FNM - both down more than 25%;

Everyone no doubt watching the SPX lows of 1200- probably lots of longs with stops below that level and if it doesn't hold it could get ugly - down to 1170 the 50% retracement.

And INTC trading up 3% after doing better than expected- lets see how long it takes to fade that;