EARLY AFTERNOON CHECK

Big Ben out with breaking news that the country has a little problem known as social security. My suggestion, tell George W. Bush to cut taxes and we will grow our way out of it.

Anyhow, back to the markets, they continue higher with hardly a dip while the day trading "tells" remain bullish and shout that a few more decent rallies will ensue before the day is over.

Market internals very strong +1,900; banks straight up; brokers straight up; GS MER BAC TRANNIES, RETAIL, SMALL CAPS all strong.

Semis are higher but not nearly as green as the rest of the NAZ and any further deterioration in that group may be a preliminary signal to head for the exits.