QUICK FLIP

Equity futures turned lower on the poor jobs numbers and rallied back after the open only to tank again and hit new lows- as I type SPX -14, NAZ -28 and the DJIA -121.

Strongest sectors- metals, bonds, gaming, drugs and homies while banks, oil service, small caps and trannies lag.

NYSE-1375 net losers;

NAZ- 1300 net losers;

SPX - 40/460;

NDX- 13/87;

TRIN - 1.71;

VIX- 23.36 and higher by 5.7% -hardly a panic;

Gold $1209 and higher by about $12;

Crude- $81.2 and down about 80 cents;

WINNERS- KFT MA FCX WCRX VOD FWLT QGEN PCLN MXIM NVDA ABT;

LOSERS- CMCSA USB RF BHI EMC NSC ADSK ATVI NIHD ERTS VMED NTAP SNDK;

RSI 2 readings as follows:

SPX 17

NDX 21

RUT 14

Pretty ugly day but I think the numbers say to buy for a flip into next week - Earnings numbers continue to be good - so as long as there are no jobs numbers equities probably go higher.

I picked up some MGM and am looking to add to the position.