MIDDAY LOOK

All of a sudden the markets are ripping higher led by the DJIA and the recently crushed brokerage group. DJIA +167, NAZ+17 and SPX +16.5.

Strongest groups include brokers, retail, reits, trannies, internets, large cap value and airlines while metals, biotechs and semis lag.

NYSE internals+1175;

NAZ internals +620;

OEX- 90 GREEN - WINNERS GM MCD F LEH MS LTD NXY MER AA GS; LOSERS- EMC S CSC TXN MO CL TYC CCU INTC ORCL AEP;

NDX - 75 GREEN - WINNERS- SHLD LOW NIHD QCOM JOYG BBBY EBAY COST EXPD BRCM; LOSERS- LVLT JNPR APOL SNDK AMLN VRSN ADBE PTEN TEVA ATVI EXPE;

VIX - lower by 4%;

The SPX has put the 50 day SMA in the rear view mirror by about 7 points and it should act as support on the next down draft. The NAZ/NDX is lagging today as tech/semis are not keeping up with retail and financials.

Bad news for Cramer and his flock as LVLT, his number one spec stock for 2007 is down another 3% today and 20% on the year while NYX is down .7% today and 29% on the year, finally MO, flat on the day and up 2.7% on the year. I bring it up/out cause yesterday on CNBC Cramer mentioned how he doesn't like ETF's cause they include too many lousy stocks and he likes to think he is smart enough to avoid them. Of course all the major market indexes are higher on the year except for the RUT which is flat.