AFTERNOON LULL

Markets seem to be stuck without much movement into the afternoon but there is some interesting sector action.

First, big caps over small and growth over value.

Banks and brokers, not a green stock to be found as C JPM MTB WB WFC XLF IAI BSC BX GS LEH LM MER MS BOT CME ICE NMX all lower- NYX still green.

Technology- a mixed bag with some strength in the semi group led by KLAC INTC NVDA TXN and BRCM. AAPL GOOG AKAM HPQ SNDK YHOO all green while RIMM MSFT MOT INFY IBM CTSH EBAY CSCO AMZN AMAT XLK all red.

Retail, real estate, gaming, drugs, defense/aero, and consumers all enduring big losses on the day.

Volatility indexes higher by about 6% and near their recent mid point lines and short term moving averages.

IBD 100 stocks not signalling any under the surface buying today as the internals there are 3/1 losers to winners with ALY CAE BIDU TLVT and HURC green and TBSI MTOX SYNL RRST PCLN and CPLA the biggest losers.

I intend to buy more ITA as this sector/ETF continues to act well and dip buyers have been nicely rewarded in the past.