CHOPPING

Markets continue to chop around after the futures filled the morning jobs related gap higher. The DJIA +28, NAZ +4 and SPX +3.5.

Strong sectors include semis, real estate/reits, oils, the Aussie market, defense, small caps, drugs, small cap growth, software, trannies and airlines. Lower are internets on the heels of the YHOO news, homies, retail and gaming.

Market internals have improved and now show +900 on the NYSE and +500 on the NAZ.

The OEX 75/25; NDX 65/35 and SPX 340/160 - UP to DOWN.

IBD 100 about 70 up and 30 down.

The brokers and exchcanges are trading mixed while GOOG and BIDU are red and AAPL is green.

Volatility indexes heading lower again and trading about 13% below their respective 10 day SMA's.

This doesnt look like an area to get aggressive with the longs as I don't expect a great close to the day.

Larry Conners, the founder of TradingMarkets.com and the author/co-author of some terrific trading books including Street Smarts and How Markets Really Work, is out with a new Blog. The first entry deals with something I have discussed many times, buying lower and selling higher. He says forget the TV guys (Cramer), go with the stats, and he does have some interesting numbers that kind of prove his point.