NOON LOOK

Markets continue to trade lower as the DJIA is -34, NAZ -12 and SPX -8.

Interesting to watch the levels as the NDX hangs in at the 2,025 level and at the days pivot. SPX also sees action at 1,433, the pivot point while the DJIA continues to trade a hair above the pivot at 12,920.

Sectors continue to show the usual with oils, utils, trannies, biotech and internets leading while real estate, banks, brokers, retail and homies lag.

Key stocks - a little more than half lower with GRMN BIDU MA MTW AAPL GB RIMM the winners while VMW C MER TIF MS WYNN BAC the biggest losers.

Internals have flipped to red as NAZ/NYSE show over 1,200 net red;

NDX- 30 WINNERS;

OEX -35 WINNERS;

IBD 100- 60 WINNERS;

Remember, in the IBD 100- a large amount of winning tech/energy/metals/emerging markets.

Down volume about double Up volume;

10 year Bond at 3.97% and dropping;

Vix up 3.6% to 26.55 and a bit above the 10 day SMA;

WINNERS-GRMN BIDU SNDA ARD CNH BOOM GIGM BUCY MICC DLB JOYG VRSN AAPL JAVA NIHD RIMM ISRG EXPE AES CI BA AA EXC MDT CCU GOOG;

Interesting to note 52 week lows a bit better than usual with about 100 on both the NYSE and NAZ.

Notables on the NH list:

DE GSF RIG;

On the NL list:

AMD ACF CTX ELX F HOV LOW JOE VNO;

Had to laugh this morning as CNBC ran the headline "$100 oil will lead to demand decrease." Of course they ran the same headline at $50 oil.

Still looking for the rally I mentioned last week (easy trade) and will probably buy some YM here also as they couldn't get em down so maybe the take em up.