CHOPPY DAY

Boring session so far as the major market indexes trade a bit above the flat line. The Mid Caps are winning the battle today and also on the year as they are +6% as I type.

Sector winners continue to oils, semis, trannies, brokers, retail, real estate, defense and large cap value. Losers include big cap biotech, silvers, drugs, metals, internets,airlines, tech and software.

Key stocks are mixed with brokers mainly green; exchanges mainly red and big cap tech reddish not counting the semi group.

Winning stocks include GM NSC EMC NSM BNI AEP WY MEDI HAL WFMI SNDK PETM NTAP and LRCX.

Losers- AMGN DNA PCAR QCOM JNPR EBAY AKAM ADSK INFY WMB DIS ABT S BMY and ATI.

Market internals - net 600 in the green on the NYSE and NAZ.

OEX about 55/45 up to down while the NDX is 60/40 green to red and the SPX about 320/180 green to red.

Volatility indexes also flattish and now trading about 12/13% below their respective 10 day SMA's.

Not expecting much other than chop for the balance of the day and I do have some YM long that I anticipate dumping into the next ramp; hopefully above the 12,585 level.