CLOSING LIMP

Markets closed higher but well off their best levels as the SPX was at 724 at the best level and closed at 713- so lost about 1.5% from the highs.

Sector strength - shipping, energy, trannies, semis and internets while banks, gaming, gold and junk lagged.

NYSE- 1820 net winners;

NAZ- 1150 net winners;

NDX/OEX - 85 green on each;

VIX- down 7% at 47;

Up volume 2.5x the down;

Gold - $908- and probably a buy to $900;

Decent trading day with winners on DIG SRS - loser on QLD that was an ugly early stop victim.

Tomorrow - probably some shorts with SRS and SMN- although the mark to market rule may scare some folks from the short side.

RSI (2) levels at/near 55 so heading to over bought conditions short term if another rally tomorrow.