THE CLOSE

Markets closed in the green but off their best levels - as they did bounce from the DJIA 8K area. Also note how the SPX closed at the 50% retrace- half way between 945 and 741 at 844.

Strong sectors today included retail, metals, real estate, biotech and semis while banks, telecom and junk lagged.

NYSE- 250 net green;

NAZ- 415 net green;

OEX- 47 GREEN;

NDX- 78 GREEN;

VIX- higher by 3.3% at/near 51;

Today may be one of those reversal daysas we bounced big off the lows- from very oversold areas- gun to head I think we rally for awhile.

Also, check the stochastics- look to be an area to rally from and the RSI at/near 8- and the SMA 50 as a short term target.

SMART MONEY with some Battle tested funds;

SOCGEN says prepare for the worst;

BARRY on C;

And INTRADE- over 50/50 for the big one (53% chance of depression);