Just when it appeared safe to get back in the water - the markets turned from DJIA +300 or about 700 off yesterday's low- shouldn't be too surprising that the markets sold down and closed down 127 and lost another 100 in the futures after market.
Strong sectors - energy, gaming, brokers, internets and retail while emerging markets, banks and metals lagged.
NYSE- 360 net GREEEEEN;
NAZ- 335 net red;
NDX- 45 GREEN;
OEX- 40 GREEN;
WINNERS- SLE NOV EP WMB UNH ALL GOOG EXC NIHD WYNN MICC JNPR JOYG ATVI LINTA KFT HD MRK;
LOSERS- C CAT UTX BAC KO AIG RF WB FDX BHI SLB S HON CVS AAPL ISRG SIRI SNDK CHRW AMLN MCHP KLAC AMAT LOGI;
VIX- higher by 4% at near 70;
Crude- higher by 3% at 72;
Gold - a way down at $785;
VIX + MORE with his take on VIX and the TED.
Quant on VIX highs with SPX lows.
Is this the nail in the coffin.
So even Buffet couldn't keep the markets higher with his OPED in the NY Times- well it seemed a bit much too fast-
Next week - will be looking to buy the dips as am pretty confident that more money will be made on the longs than the shorts from these levels.