You'll have to excuse the contrarian in me, but I am beginning to see the pieces fall into place for a nice rally. We need a few things to happen in order for that to happen.

1) The markets normally do not reverse the morning after a weak close. After falling 237 points and closing at the lows for the day, any rally on the open today has to be looked at with a high degree of skepticism.

In order for a market to end its current correction cycle, we need to see a large sell-off intra-day and a large rally on high volume into the close.

2) Most market bottoms occur on days of panic selling, better known as capitulation. A capitulation is a major washout (down 300-500 points) that would set the stage for a major rally into December.

Today, a perfect scenario for a washout would occur if the Dow Jones Industrials sold off to around the 12,500 mark, reversed, and rallied sharply into the close. This would set the stage for a major year-end rally.

Today, the financial channels are touting the famous mantra of "10% and done." This simply means we have had a normal 10% correction, and as in past years we can expect a rally. They are right to an extent, but not before you have a capitulation day, followed by an intra-day reversal.

The big news of the day is Citigroup's (C) 4.9 percent asset sale to the Muslims of Abu Dhabi.

Sorry, to cut this short, but I have to go. If the day unfolds like I described above, there is a lot of money that can be made.

Look at buying a few shares of SSO when the Dow nears 12,500.

Have a great day!