Today was another day of strong selling, led by financial stocks and by earnings more than anything major. On last look oil was up more than $1.00 to almost $125.00 per barrel. Today is a reminder that a low valuation alone is not a reason to buy.

Here are today's unofficial closing bell levels:

DJIA 11131.56 (-239.13)
S&P500 1234.75 (-23.01)
NASDAQ 2264.22 (-46.31)
10YR T-NOTE 4.018 (-0.093%)
52-WEEK LOWS (huge list)
TOP ANALYST UPGRADES
TOP ANALYST DOWNGRADES

Kraft Foods Inc. (NYSE: KFT) managed to show its first substantial earnings beat. It also raised guidance on planned price hikes. Shares were up 5.5% in today's final minutes at $31.00.


Sirius Satellite Radio Inc. (NASDAQ: SIRI) was one of the big disappointments today after shares fell despite the FCC approving the huge satellite merger.

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) was the biotech implosion of the day after the FDA delivered a non-approvable letter regarding its schizophrenia treatment. Shares were down over 70% at $0.80 on monster volume right before the end of the day.

Verizon Communications Inc. (NYSE: VZ) was down despite beating earnings estimates. Wall Street was keying in on lower FiOS signups as well as very weak and getting weaker land line subscribers. Shares were down over 2% at $33.66 in today's final minutes.