THE CLOSE

Breaking news from the bubbleheads at CNBC - the DJIA closed flat on the week after big selloffs. Well check the RUT/IWM -its down about 2% on the year while the DJIA/SPX are both down in excess of 14%- but just keep buying those big caps- that is the place to invest.

Anyhow, the big winners today were brokers, emerging markets, banks and oils- oh and crude was up about $7 but no word of that either from taut TV. Lagging sectors included drugs, retail, defense, semis, trannies and real estate.- Also note the action in WINTEL- both lower on the day.

VIX - lower by 4.5% at 31.6;

Up volume about 8X the down;

NYSE/NAZ - about 4,000 more winners than losers;

SKF is trading again and if you want to short financials its a pretty pretty good way- closing near $100 after hitting about $156 yesterday- good volatility;

One untold story- the UYG- ultra long financials- opened over $24 and closed near $22 and oil - so it will be very interesting to see the Monday trade - I suspect the selling may begin early.