Obama's In, History repeats as Markets drop

Market #'s @ Closing Bell:

S&P: -45 (-5%)

DOW: -335 (-4%)

NASDAQ: -88 (5.8%)

RUS2K: -27

TSX/S&P: -309 

VIX: +10.85 (56.86)

Internals:

Core Sector List: 16/0 to the Bears

NYSE

BREADTH: 30/1 Neg

AD LINE: -2460 ticks

NASDAQ

BREADTH: 28/1 Neg 

AD LINE: -2000

Today on the Marketbeat: 

Well all the hype and media coverage came to a culmination today as President Elect Barack Obama was sworn in on as the first African American U.S. President. A truly momentous occasion for all. The nation watched in awe as he spoke his inauguration speech, and as he made every move he did today. The Bulls must of been in full force at the inauguration because they were defiantly not present in today's market action. The bears must of been McCain supporters because they swept the market, minus gold into the wood shed for one of those 08 beatings. Although the market was oversold going into today's action, with a lil bit of research one could see that its a usual occurrence that the market dropped on the day the president is sworn in. The rallies usually follow the swearing in, so is this was we are setting up for in the markets? That huge rally to prior resistance? Time will tell, but for now pressure is to the downside.

The internals were all to the bears. The Breadths closed @  30/1 & 28/1 to the bears, the AD LINE tacked on nearly 2500 ticks of loss today and the Pivots were almost non existent as the Futures just plowed through them tot he downside.

Ideas: 

Long:VFC/WRC/COLM/HOC:21/FTO/MRO:Flag/TSO@15/WNR:9/CERN:retestplay/BLUD:BTD/MR

Short: AVB/ESS/EQR/VNO