MIDDAY MARKETS

One of the quieter days on the street as idexes are mixed with homies and tech and oils having their day. The DJIA is -12, NAZ +8 and SPX +2.5.

Strongest sectors are homies, tech, airlines, oil service, semis, software, brokers, internets, utilities, and financials. Weakest are metals, gaming, emerging markets, GOOG retail and integrated oils.

Market internals are slightly bullish with +425 on NYSE and +220 on the NAZ.

The SPX has 290 green; NDX with 65 green and OEX about 62 green.

Best performers are RTN FDX NSM BHI IP ISRG CHKP ERTS and RIMM while poor performers include ATI EK AA MRK BA ERIC AMZN AEOS VRSN and CELG.

Nice to see GS back in the green so maybe that stock has put in a temporary bottom.

I suspect just a lot of chop through the rest of the day as the markets start to digest recent gains. Again, maybe a selloff next week as traders take some profits off the tables and wait for better entry points as the bears harp on the number of days since a blah blah blah. It sounds good and we will get a correction eventually but one can lose a lot of money betting on eventually as the buy the dip trade will probably continue to be the moneymaker.