MIDDAY SNOOZE?

A brutal day in the markets as the major indexes seem to be locked in a tight trading range. The DJIA is -29, NAZ -13 and SPX -9. RUT and Value stocks far worse with losses near the 1% mark.

Sector winners- utils, biotechs, drugs and trannies while metals, banks, oils, brokers, airlines and insurance are the biggest losers.

Key stocks- generally lower led down by - RIMM POT VMW MS C GS JPM BAC GRMN KLAC and NYX while CELG TIF COST ISRG ICE and AAPL are green.

Internals- much worse than the indexes with 2,700 net losers on the NYSE /NAZ.

NDX -50 WINNERS- PETM VMED GENZ AMLN QCOM CTSH PDCO AMGN CELG ESRX;

OEX -40 WINNERS- DIS MRK WY SO KO RTN IBM FDX NSC PG;

IBD 100- 20 WINNERS- BHPX STP GME CTRP TISI ESRX VSEC TELOZ YGE ESI DLB;

I suppose there is a chance that we could get another ugly sell off in the final hour as all the recent winners are the biggest losers on the day. Doesn't give me the warm fuzzy feeling when financials, metals and oils are the market losers and the consumer non durables are the winners.

Range on SPX 1,490 to 1,450 and a fallout below those levels could signal a very ugly day.