THE CLOSE

Markets closed lower but well off their worst levels- the SPX -3, NAZ -18 and the DJIA -39.

Strong sectors included- financials, real estate, banks, homies and retail while oil service, biotech, semis, drugs and biotech lagged.

NYSE- 300 net losers;

NAZ- 800 net losers;

SPX 157 GREEN;

NDX- 25 GREEN;

WINNERS- C WFC BAC JPM DOW AA GS MON GE;

LOSERS- AMGN CMCSK TWX VZ INTC MRK DIS LLY;

VIX- flat at 25;

TRIN- .45 with up volume almost double the down - and lots of the up volume coming in BAC and C - distorting the reading.

CSCO trading lower in after hours trading-

This fish will be away the next two days and back next week - and looking to buy what is hopefully a lower market next week- the bulls are amazing as they refuse to give up and make the bears look foolish- for now.