MORNING TRADE

Blogger back to its old tricks but up now up and working. Anyhow, markets are higher with the RUT/MIDS leading the way up along with small cap growth.

Strong sectors include gaming, metals, homies, airlines, defense, trannies and oil service while banks and semis lag.

Market internals very strong with NYSE +2175 and NAZ +1340.

OEX: 87 up and 13 down.

WINNERS- TGT AA DOW IP CPB AES HIG EMC EK CI CAT DELL.

LOSERS- WFC COF MDT F PEP SO VZ JPM AEP ABT ORCL USB.

NDX: 75 up and 25 down.

WINNERS- NTAP JOYG NIHD LOW AAPL CTSH LOGI INFY CTXS SEPR.

LOSERS- CHKP IACI FAST BEAS VRTX ATVI KLAC XMSR GILD RIMM PAYX LAMR.

IBD 100: 83 up and 17 down.

WINNERS- BCSI TBSI CNH DRYS FTK WBD MR ZUMZ PCP ICE.

LOSERS- ATN TLVT FSTR MORN ARD OII ATLS CLB OPY WRNC AVR TRAK.

Lots of discussion on bubblevision on rate cuts and weather they are built into the prices of stocks. No idea, but I do think there is one thing that isn't built in and that is the completion of M and A deals like HET FDC HLT TRB etc. If these deals start to get done it should take the markets higher as it is off the radar for now and it could show that funds are available for private equity yet again.

Technically, we are at the 200 day SMA on the SPX and a little below the 50% retracement. With internals as strong as they are look for an afternoon rally.

Fly in the ointment, the VIX which is about 15% under the 10 day SMA after jumping off the boards over the last 2 weeks.