AFTERNOON SWOON

Markets are giving up early gains as the brokers banks and small caps go red.

Strong sectors include tech, oils, trannies, retail, biotech, internets and semis while homies, airlines, metals and small caps lag.

Winners- CSC EMC AES ROK S HNZ NSM RTN DISH S JNPR SHLD BEAS MNST LBTYA LINTA VSEA CF DK FTK DRC HURN PCR TBSI WCG DSX.

Losers- LKQX SMSI CEDC TLVT GMCR ARGN SF BCSI CLB FLIR UA SO ABT LEH BDK PG CL SLB AXP SEPR ALTR XMSR CTAS LVLT CTAS.

Market internals have flipped to flat on the NAZ and +333 on the NYSE.

The NDX with about 50/50 winners to losers while the OEX is a bit better at 3/2 green to red.

IBD 100 also about 50/50.

Volatility indexes off the lows as the VIX is lower by 6.5% and the VXO up 11%.

The RUT has given up the leadership spot and is again leading lower down 1%. The tech/bio heavy NDX 100 is leading the major indexes up about .4%.

The brokers and banks are primarily red after opening strong and that does not bode well for a big rally this afternoon,