CLOSING THOUGHTS

Markets chopped around most of the day but generally closed in the green with the NAZ and the RUT leading while the OEX/SPX lagged.

Strong sectors included internets, homies, semis, oils service, tech, small caps and small cap growth. Lagging were silvers, metals, trannies, airlines, defense, utilities, real estate and banks.

Market internals were also mixed with a net 250 red on the NYSE and net 115 red on the NAZ.

The NDX/OEXSPX were all about 45/55 green to red.

Big winners on the day included JOE SWS AMGN PFE MGM BIDU KLAC AAPL GOOG VLO TSO AMZN CHKP SEPR MSFT TEVA and FLEX.

Biggest losers LVLT AKAM SNDK ERIC BRCM FISV EXPD CMCSA NSC RTN SLE LTD MO and UPS.

The VIX/VXO tandem are trading in the upper 12 range and have not hit a sell signal yet. If one remembers the old lows on the VIX were somewhere near the 9.5 levels. Not sure why its a lot higher with the market higher but it will be interesting.

Final thought- There is a lot of yap about the SPX and its highs that it hit back in 2000. To set the record straight, the SPX closed at 1527.57 on March 24, 2000 but hit a high of 1552.87 during the day (the good old days).

My thought, just like the DJIA, I assume its a good bet we take out the closing highs during the next several weeks if not sooner so if you want to buy some Futures (YM ES NQ) and hold out for a new high it is probably a good trade. Only thing, wide stops and smaller positions as there is still a ways to go to hit the target.