THE PRE CLOSE

OK - that is enough for today - as the DJIA is down 300+, NAZ -75 and SPX -40. Adios to DJIA 8k - which was the place where the short lived rally started last week.

Turnaround Tuesday - maybe next week-

NYSE- 2400 net losers;

NAZ- 1925 net losers;

VIX- higher by 22% and trading at 56.25;

The clear culprits today - the financials with C trading down 18% at $2.88; BAC -27% at $5.25; JPM -19% at $18.5; WFC -23% at 14.4 and GS 17.5% at $60.

So much for the financials as the BKX index trades down to 25.76 or -18% on the day.

Waiting for the tomorrow but a nice rally probably around the corner- although everyone's best friend now with this.

Mr. President- better days hopefully not far off- as I have been pinged more than a few times today about how the markets haven't done well since Obama was elected.