THE CLOSE

Another crazy day with the markets closing +485 on the DJIA, NAZ +99 and SPX +58.

Strong sectors included banks, brokers, emerging markets, ags and real estate while metals, utils, trannies and biotech lagged.

VIX- lower by 15% at/near 39.6;

Crude - higher by $5 at about $102;

Gold- lower by $40 at 4875;

I suspect we start going back down tomorrow as today's rally seemed a little with contrived with end of they month/quarter buying - also seems like a sell the news when/if the "recovery plan" gets passed.

Also, note how well those specialists did yesterday buying all that merchandise for sale in the last few moments as the DJIA crashed 200 points at the 400 settle up.

Finally, some fun links:

David Gergen on the bailout;

The best is yet to come from Sarah as some seeing her rising to the level of mediocrity;

Bespoke on the oversold condition;