CLOSING RAMP

Markets have rallied back from SPX 1008 to SPX 1061 and volatility remains a bit on the high side. Moments before the close DJIA -315, NAZ 75 and SPX -35.

NYSE- 2700 net losers;

NAZ- 2050 net losers;

NDX/OEX 10 WINNERS on each;

VIX- higher by 13% at/near 51 after hitting the 58 level;

Shorting at these levels probably not a great idea and waiting for the markets to settle down a bit probably good advice- so if one needs to sit on the sidelines for a while without trading is probably also a good idea.

The biggest loser today appears to be everyones favorite CNBC commentator who came out with a big big sell signal this morning. Maybe pretty soon before he tells us it never happened.