NOON TIME LOOK

Markets continue to flop around in negative territory with a NAZ over S session at hand as the SEMIS play catch up and outperform after acting ugly earlier in the week.

Sector winners continue to be metals, reits and semis. Leading lower are brokers, retail, banks, biotechs and airlines.

Oil stocks are taking a little rest today after crude traded briefly over $63 a bbl. I suspect the pause that refreshes as they head higher into the last few weeks of the year.

Market internals are red 125 on NYSE and red 350 on NAZ. Not too bad for a day when the DJIA is down 60 and the SPX is down 5. Fixed income is no doubt skewing the NYSE as the 10 year is now trading at a rate of 4.46%.

AAPL and GOOG are slightly green while GS and MER are trading ugly red. Not sure what the very ugly recent action in the brokers are telling but maybe just some profit taking as they have had a huge move.

Mark up guys usually don't act on the last day of the month but I suppose nothing will keep them from holding the markets flat.

And did anyone see that piece on CNBC about XOM and how one needs to own the stock into the end of the year as the mutual funds buy it even though its a lousy company. Great stuff from yes him.