THE CLOSE

Markets closed lower but off the worst levels as folks seemed to be focused on the auto hearings and tomorrows jobs number.

Its now all about the JOBS and my plan for now, if the number is worse than expected - buy the dip and if its better than expected- also buy dips.

Best sectors included homies, retail, trannies and financials while oils, gaming, ags and utils lagged.

Market internals- ugly reversal with 2600 net losers between NYSE and NAZ.

VIX- higher by 5%.

RSI (2) levels a hair under 40.

Crude was crushed down almost 7% and lots of talk of gasoline going to about $1 at the pump- hmmm brings back thoughts of the old days when folks talked about $200 a barrel crude.