ALMOST HIGH NOON

Markets continue to trade higher on what appears to be an alligator trade as the asset allocators buy equities and sell fixed income. Note the 10 year Bond rate is trading at 4.66%, the highest since mid November as the dollar goes lower.

Checking the sectors, the metals (dollar down trade) are acting best followed by homies, gaming, semis, small caps, brokers, software, trannies and oil service. On the other side, AAPL AMGN ERTS and the dollar are weak.

The NAZ 100 has about 80 winners and 20 losers with AKAM WYNN LVLT ATVI and AEOS acting best.

On the OEX (SPX 100), about 75 winners and 25 losers with AA SLB ATI C HPQ and GOOG acting best and USB EP DOW DD TWX and UTX acting worst.

Yet to be heard on BUBBLEVISION, but the IWM is up about double the big cap SPX; and of course the crummy action on the NDX continues as the futures are up 7 after trading back to flat earlier this morning. AAPL's anyone?