NOON CHOP

Major indexes have flipped the switch to green led by Big Cap and value stocks.

Strongest sectors include airlines, metals, oil service, defense, software, drugs and banks; leading lower are retail, semis, real estate, brokers and mid caps.

All 4 horseman lower led by RIMM.

Big winners include BAC EXPE UAUA NTAP IACI ADSK BMY CSC GE IBM CLRK BWLD DWSN FCSX AFSI IDSA CPA and BIDU.

Big losers- EML RIO AVT AKH APLX MCHP ALTR RIMM CKFR INFY SHLD F TXN FDX CL PEP AVP and UTX.

Market internals are mixed on the NYSE /NAZ and a hair green on the NDX/OEX combo.

Volatility indexes down about 2% and trading under the 10 day SMA's.

Highlights of the day:

GE breaking out; large cap value out performing- GS reversing the recent sell off- TXT up $3 on an up grade- NDAQ/NYX continue to drip lower- MGM at/near new 52 week high- SHLD and Eddie L under the 200 day; INTC continues to act well;