Just yesterday we were all scratching our heads and wondering where the bears had gone. It seems maybe they were just out on a binge session. Today was the playbook day of what we had seen so regularly before last week with financials and tech lower, and gold, oil and commodities higher. Oil rose a sharp $4.73 to $105.95 on lower than expected inventory numbers, and gold was up $11.00 at $949.50 in late day trading on the weak U.S.-Peso.

February's Durable Goods brought on more pessimism from the start of the session after posting a 1.7% drop, although this has always been one of the more volatile economic numbers in good times and in bad. The report out of the Commerce Department showed new home sales fell another 1.8% in a fourth consecutive decline, although that was slightly better than many were looking for. Below are the unofficial closing prices for U.S. index levels:

• DJIA 12,422.86 (-109.74; -0.88%)
• S&P 500 1,341.09 (-11.90; -0.88%)
• NASDAQ 2,324.36 (-16.69; -0.71%)
• 10YR-TBond 3.494% (+0.002%)
• 52-week lows

Jabil Circuit Inc. (NYSE: JBL) fell today on quarterly losses and missed estimates. Other competing companies in the sector traded lower too but not as much as Jabil. The stock is down over 18% to $9.30.

Motorola (NYSE: MOT) announced that it will split in two today. The already overvalued stock showed little response, up a little over 2.5% to $10.02 on the news.

Clear Channel Communications Inc. (NYSE: CCU) dropped 17% to $26.87 on news that the private-equity buyout by Thomas E. Lee and Bain Capital has gone from questionable to murky at best.

Sprint Nextel Corp. (NYSE: S) saw a rare gain as cable carriers may do a wireless deal with them. Shares were up 3% to $6.61 in the last hour of trading.

Citigroup Inc. (NYSE: C) was down due to reduced estimates by Oppenheimer with more expected writedowns. While this brought the stocks in all the major banks down, the worst part of the bad news may be behind or at least close to it. City was down over 5.8% to $22.09 late in the day.

Shares of Rambus, Inc. (NASDAQ: RMBS) rose a sharp 38% to $25.86 after the company won a conduct phase in its ongoing patent and intellectual property cases against memory manufacturers.