AFTERNOON LOOK

Markets have flipped to flat after opening lower with the RUT/NDX/NAZ is again leading the way while the SPX and Value are lagging.

Strongest sectors- Australia, metals, real estate, reits, trannies, drugs and defense while china, internets, airlines, banks, homies and biotechs lag.

Market internals flat on NYSE and NAZ;

IBD 100 - strong with about 65 winners;

NDX/OEX -each with about 50 winners;

Biggest winners- LOGI ISRG LVLT MNST ADBE RIMM BAX BNI IP GM DELL ATI NSC GSOL DSX TBSI ARGN MR LWAY SNHY EXM SLT;

Biggest losers- SNP ACM VDSI LFC EJ CHL MBT SSRX BTJ ALL RF BAC WFC AXP TXN MER C EBAY AMAT CTXS ERIC UAUA LAMR SIAL WYNN ROST KLAC;

VIX/VXO unchanged;

Crude trading over $89 and the market remains a tad over sold in light of the recent dips on the major indexes. I suspect we move higher over the next few sessions since the lousy numbers out of BAC and couldn't get us down I doubt there is much out there that will. GOOG later today probably beats and trades higher dragging the rest of the market with it.