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;


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;


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