OIL GUSHER

Oil stocks are ripping higher on the inventory news as the distillate draw was a bit more than expected. Higher on the news includes the usual suspects XOM VLO FTO and OIH.

Sector winners continue to be airlines, oils, trannies, biotechs, internets, small caps, brokers, homies and defense stocks.

Semiconductor stocks have turned tail and are lower by about half a percent along with other key stocks like JPM C KLAC LVS INTC DNA and HET. Techs stocks are also lower and they may be telling us something as they have been the biggest recent winners.

Market internals still bullish with +700 on NYSE and +425 on NAZ.

I suspect if the markets do sell off a bit, the bulls will chomping at the bit to own stocks.