Markets were very strong early but have made a U TURN as the DJIA has turned red while the NAZ/SPX have faded to flat.

DJIA being led lower by WMT BA CAT C AA CVX IBM XOM DD -

FWIW - the 38.2 retracement on the SPX 1292- just about the high of the day - how's that computation - 1440 recent high on SPX and recent low at 1200- difference 240 X .382= 292.

GS a pretty good clue this AM that the market was a fade and keep an eye peeled on oil - which is now flat after being way down earlier.

Have the financials bottomed - all about the real estate- if that drops another 10% there will be lots more write offs for the financials- in fact- many of the financials will have to be written off- hopefully doesn't happen.


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