NOON SWOON

Markets continue to trade a bit lower with oil stocks being the stand out to the upside. Who would have thought that the dems would take over both houses (foregone conclusion in my opinion), OOPS Tester wins, and MO and XOM would be the DJIA upside leaders?

Other sector winners are internets and retail while drugs, airlines, brokers and biotech lead to the downside.

Market internals hang tough near the unchanged line and I suspect (gut only) that the markets will rally late in the day.

Volatility indexes continue to trade flat and hover near the 11 level.