CLOSING UGLY

Markets closed higher but way off the best levels as the SPX touched 810.5 and closed under the 800 level at 797.63- seems like eoq mark uppers gave up at 3 as that is when one gets into trouble- marking up the final hour.

Strong sectors- real estate, banks, brokers and ags while energy, homies, shipping and telecom lagged.

NYSE- 1570 net green;

NAZ- 1000 net green;

NDX/OEX- about 75 GREEN on each;

VIX- down 3.3% at 44- and it seems like the VIX is becoming less and less helpful;

TRIN- .93 with up volume about 4x the down and 1.6B shs traded;

Under 800 and futures ticking down further- so the break above the level everyone was watching is now gonzo- maybe lots of folks looking at the 810 area as a pretty good place to sell in light of the earnings/guidance that will be coming.

Dougie on the death of buy and hold;

MV on the VIX;

Taleb on the folks running the street now;

And yes I miss Dylan already with Maria telling me "money coming into financials and tech and the markets up triple digits." Cheerleader Number 1.