MIXED MESSAGES

Markets are trading higher although the message of the markets as I type is indecisive. The big caps are up led by the DJIA (+60), while the tech heavy NDX lags in negative territory.

Strongest sectors include oil service, drugs, utilities and defense while airlines, biotech, reits and real estate lag. The brokers are mixed with LEH LM green while GS BSC MER MS are red. Tech also mixed as IBM CSCO AKAM HPQ INTC MSFT TXN are green while AAPL GOOG RIMM ZMAN BRCM EBAY KLAC and YHOO are red.

Winning stocks include MRK ABT HAL T VZ IP TLAB ISRG RYAAY VMED DISCA WYNN SNDK SBUX NVT TBSI TWIN FTK and PCR.

Losers include SNHY BIDU ICE AAPL FCSX PVG NOV AA EP COP CAT EXPE CELG BEAS PTEN CHRW GOOG AMZN and RIMM.

Market internal are net 400 green on the NYSE and flat on the NAZ.

The OEX is very strong with about 3/1 up to down while the NDX is ok at 3/2 up to down.

Volatility indexes are mixed and trading about 6% above their 10 day SMA's.

Many mixed readings this AM led by the brokers which will probably oscillate in a range for now and cause the over all markets to also be range bound. Big cap tech also week causing me to be a little bearish on the markets for the moment.