MORNING MARKETS

Markets trade all over the board as the SPX range in the first 2 hours was 20 points. Big caps are the strongest while Mid caps the weakest.

Strongest sectors include internets, biotech, tech, defense/aero, retail, drugs and utilities. Weakest include metals, trannies, homies, airlines, reits and oil service.

Winning stocks include CROX AAPL AMZN CNQ COP MRK BA GD WYNN LVS NOV AFSI EDU GRMN OPY ACH CHE BIDU NILE CL and AVP.

Losers HOC VLO FTO CAM RIG ICE NMX JPM C BAM MGM CAT DD MTW FCSX CMED BTJ CNH HDNG JOYG CHRW MICC PCAR ISRG and NIHD.

Refiners and ag machinery stocks falling off the table;

Brokers lower with the exception of GS;

Biotech green led by BIIB GENZ;

DJ is up 3% all of a sudden;

Retail high flyers such as PVH GES DECK all lower;

Tech a mixed bag as AMZN AAPL CSCO EBAY HPQ IBM green while GOOG BRCM INTC KLAC MOT MSFT NVDA red;

Market internals were strong at the open but have flipped to red as there are now 500 net losers on the NYSE and 300 net red on the NAZ.

Volatility indexes flattish and still hanging in the area of a buy signal for the major indexes.