THE EWA

Markets closed in the middle of the range today after hitting the high a bit after noon. The SPX closed +23 and the NAZ +51.

Strong sectors- gaming, trannies and real estate while metals, drugs, bonds, biotech and utils lagged.

NYSE- 2325 net green;

NAZ- 1600 net green;

NDX/OEX- 90% GREEN;

VIX - 42.25 unchanged and useless;

TRIN- .65 with upside volume beating downside by over 10/1;

How now- tomorrow is the jobs report and my GUESS is regardless of the number markets get sold as traders look to protect gains -

RSI (2) way over bought and over 90 on most major indexes.

Longer term besides liquidating longer term positions - I intend to buy invest in the DBA/DBC ag/commodity funds and put up a bigger position in EWA - which is sizable now- I think Gartman has it nailed - own the commodity funds and the commodity producing countries.

If one wants a short idea - buys SDS with a stop at today's high in the SPX - note the major resistance at 840/845 - even Arthur mentioned it.

Gold probably a source of funds now but eventually much higher as inflation come back to the radar.

And there are still some that don't believe the rally - like this guy;

BESPOKE with a look at best q starts;

FMF with a lengthy Jim Rogers interview;

And Madoff back in the news- with a comp;