THE CLOSE

Markets closed the day well off their worst levels and I had to close out my SDS trade at break even as it became pretty clear the markets weren't going to close at the lows.

Strong sectors- ags, drugs, internets, metals and biotech while banks, fins, shipping, brokers and real estate lagged.

NYSE- 2400 net losers;

NAZ- 1500 net losers;

NDX/OEX -15 GREEN out of 200;

VIX- higher by 11% and about 7% above the SMA 10;

TRIN- 2.69- very light volume with just about all of it to the downside;

Gold $916 and crude at $48.5 down $4;

RSI (2) levels near 15 on the SPX;

Today's sell off a little different than most of the other ugly days of late- we closed well off the lows and buyers seemed to have interest at the end of the day.

No clue for tomorrow although end of month- so probably a good opportunity for some folks to mark em up- but who knows what the news will be tonight- or before the open-

This fish- one trading day at a time.