THE CLOSE

Equities closed a bit off their best levels of the day - but the markets did turn around and send the shorts home unhappy yet again.

SPX +9.5, NAZ+25.5 and the DJIA +54.

Strongest sectors- airlines, reits, silver, semis and banks while energy, ags, emerging markets and brokers lagged.

NYSE- 1200 net winners;

NAZ- 800 net winners;

SPX- 410 GREEN;

NDX- 91 GREEN;

VIX- down 2% at 17.85.

TRIN- .84 with up volume about 3x the down.

Bought the dip today and now am long XME LVS BAC and small guy VVTV - as it looks like equities will continue the upward move probably taking out the tough 1150 resistance level-

RSI 2 levels not that stretched at under 70 on most major indexes - I suspect lots of folks bought that dip as that has been the money trade for some time.