MIDDAY MARKETS

Markets continue to trade higher and have now gained back about half of what was lost yesterday. The action in the financials has also improved as GS AIB BEN CFC MI MTB TROW WFC LM ICE NYX NMX are all up 1% or better.

Strongest sectors, oil service (OIH up 25% for 2007), tech, silvers, semis, retail, metals and reits while biotechs and drugs lag. And don't mention anything to the shrewd CNBC anchors that crude is up $1.5 and the DJIA is up 100x that number. Hard to believe.

OEX and IBD 100 internals are very bullish with 90 winners on each; NDX with about 80 in the green while the NYSE shows about 2k more winners than losers.

WINNERS- AAPL NVDA GRMN RIMM INTC MRVL FLEX INFY BBBY SNDK SLB HD WBM GM ATI RTN HPQ ACH TKC SNP DRYS RIO CEDC DSX PCR;

LOSERS- TTEC TRAK SPEC SNDA HMSY ARGN ESI MA CPLA WB AEP MDT CPB MCD ALL MS JPM JOYG PDCO GILD BIIB CTXS IACI EXPE;

Volatility indexes way down with the VIX/VXO dipping about 7%.

OK, officially calling for range bound action between this afternoon and Friday as folks migrate away from the markets and leave their laptops home after being driven wacky by the markets over the last month.