DONE TRADING

As usual the market sold off early in the day and staged a mid day turnaround. I bought some YM near the pivot point and have since sold it all into the ramp between 12190/12200 and am a happy camper.

GS ($3 higher than when I nailed it this morning) and IWM have been very good performers while the BIG CAPS and the DJIA have lagged. The OIH continues to impress as it looks to close near/at the highs despite crude being down by a buck.

Sector winners continue to be internets, biotechs, airlines, brokers, retail, tech and small caps. Losers on the day include drugs, metals, oils and GOOG.

Market internals turned bullish early in the morning and have steadily improved and now show about 2,000 more winners than losers.

The markets continue to defy logic as every whiff of a sell off is immediately bought taking the markets ever higher. It will end one day and there will be more than one unhappy trader holding the bag. For now its straight up from here.