DONE TRADING

Markets continue to chop around with DJIA flat and NDX higher by 5. Best acting major market index is the IWM or small caps.

I mentioned yesterday that days after trend days tend to be choppy, well today fits the bill (so far) as the DJIA Futures have traded in a 40 point range between 11,927 and 11,887.

The market internals may have said trade with a bullish tone as they have improved all day long and now are at the high water mark for the day of 2,000.

Semis have been weak all day and financials have been bouncing around with a bullish tilt.

Biotechs, internets, oils and metals remain the best performing groups while retail, airlines, semis and drugs continue to lag.

Also, check out this quote from Alan Farley at realmoney.com:

"Technicians are taught that big-cap rallies signal "last-gasp" moves in aging bull markets. The theory is that big money tosses capital into these old behemoths in a flight to safety that precedes major downturns. Will it be any different this time around? Sure it will, and Santa Claus is a real person living way up in the Arctic Circle."

Food for thought. And congratulation to Johnny Damon, who is now offically on the yankee for life list.