NOON UPDATE

Its a snoozer of a day unless your invested in the precious metals sector. As of noon, the HUI is +3% and the XAU is +2.5%. The winners are EGO, MDG, RGLD, GSS, PAAS, GLG and GG.

The market internals are about 1,100 to the red and the market winners are still Semis (+.5%). The NAZ is higher by one point while the SP 500 is lower by 2.6 points. Small Caps are underperforming with the IWM lower by .4%. The oil stocks are generally lower but FTO and VLO are bucking that trend.

AAPL as usual is giving up its early gains and GOOG/GS look strong. One other bit of good news is the Volatility Sisters are up between 3 and 4%%.

I am watching the action in the SPY and if the 130.2 Pivot Point can be approached and the internals start to turn the market may ramp higher.