THE CLOSE

Markets closed above the lows after good news came from Blackrock, FRE/FNM and Pelosi- and the market rallied on all that news and we went back down-

Strong sectors included - utils, drugs, semis and trannies with metals, oils, gaming and shipping being the worst.

NYSE- 1920 net losers;

NAZ- 1400 net losers;

VIX- 61.5- and up 2.25% on the day;

Light volume with down way more than up;

The good news didn't hold the markets up for long as they closed about 200 off the best levels of the day on the DJIA- turn around Tuesday tomorrow- I doubt it - as I suspect we continue lower.