AFTERNOON TRADE

Not quite the close but my take is the markets are still a bit skittish as some selling has reappeared in the final hour. In addition, crummy action in the big banks as BAC C MTB WB WFC are all lower while the XLF trades flat. Brokers/xchanges generally higher led by GS CME BEN TROW ICE NYX NMX.

Strong sectors- China, internets, emerging markets, tech, oils, biotech and growth stocks while homies, banks, real estate, retail and drugs lag.

Key stocks generally higher (30 out of 40) led by BIDU GRMN POT AMZN ICE APPL KLAC CELG- lower are UA GE TIF C COST MGM BAC MER LVS BG WYNN;

NYSE internals +650;

NAZ internals +590;

OEX 65 WINNERS;

NDX 75 WINNERS;

Big Winners- BEAS ERTS AMAT GRMN AKAM WFMI CHRW ESRX CHKP GM DOW EK F AVP GOOG GD DELL GS BAX CSC TNE TBSI EXM CF SLT DRYS BCSI VSEA HDB CMED;

Big Losers- WHQ NILE CMG OII FTK PCP ARGN CAM VIVO MR ATI GE C COF ABT EP IP CBS WFC TGT SEPR SPLS SNDK COST PETM PTEN LARM SIRI INFY UAUA SBUX DISH;

Volatility indexes down about 6.5% and trading near the 10 day SMA's;

Two day RSI's on major indexes:

SPX 61

DJIA 60

RUT 52

MID 47

LARGE GROWTH 70

SMALL VALUE 43

NDX 67

NAZ 64

Two day RSI's on various stocks:

BSC 10

AMGN 96

GENZ 99

GE 7

MGM 21

ABT 0

BHP 97

EWA 93

GG 96

APC97

HAL 98

OIH 92

XLE 80

XTO 95

SNDK 5

TXN 5

GOOG 91

I suspect higher prices and new highs next week assuming companies that report have nothing to horrible to say.