NOON TIME LOOK

The markets are basically no where today as option expiration proves to be another bust. The interesting action is in the homey sector as folks are thinking rates are going to go down. I am thinking of a long SMH/QQQQ position vs my SPY short as I have a suspicion that the shrewd guy on realmoney may have bottom ticked the NAZDAQ. Note that the SMH has turned from the red dye to slightly positive and the QQQQ has also turned to a bit higher on the day. The internals on the NAZ have also slowly improved today.