NOON BLIP

Markets are solidly higher in front of Ben's 2;30 announcement and he better deliver the 25bps cut cause if he doesn't well we probably close lower. A 50bps cut probably gets the DJIA to near the 14k level.

Best performing index today to the chagrin of the big cap bulls- the midcaps which are ahead of the bigcaps year to date also although not quite at the NAZ/NDX levels.

Strongest sectors- China, metals, oils, emerging markets, financials, real estate, reits and brokers while airlines and gaming lag.

NYSE - 1340 net winners;

NAZ 640 net winners;

NDX 63 WINNERS;

OEX 80+ WINNERS;

IBD 100- 75+WINNERS;

VIX down by 6% and about 4% under the 10 day SMA;

WINNERS- NXY MSFT ATI WMB COP MS GS MA SNP DRYS DSX EXM BTJ SSRX MICC PTEN SEPR APOL SIRI LINTA IACI MNST ERTS XMSR;

LOSERS- NIHD GRMN WYNN AMLN AKAM FLEX GENZ UAUA JAVA LAMR HURN ARGN MORN ANSS FTK CMTL WX PAY GMCR;

So one day after the sell call on oil from GS, crude approaches $94 and oil stocks follow as they are up about 2.25% today.

WYNN LVS hammered on the heels of last nights numbers from WYNN- good but not good enough as the stocks have soared of late. Time to buy- eh yes - although I scaled still looking for a further drop but like the longer term picture as Macau supposedly 2x Vegas within a year or two.