AFTERNOON SNOOZE

Markets continue to trade lower after an initial attempt at a morning rally failed. The DJIA-100, NAZ -15 and SPX -11.

Strongest sectors are brokers, biotech, large cap growth and airlines while internets, Australia, real estate, emerging markets, banks and homies lag.

Key stocks- ICE RIMM CELG GS NVDA MSFT green while UA AMZN MA INTC MGM NYX MTW BAC and MER are red. Overall half up and half down.

NYSE- 1480 net losers;

NAZ -1135 net losers;

OEX-20 WINNERS;

NDX -28 WINNERS;

IBD 100-40 WINNERS;

WINNERS- GIGM FMCN WFR STP RIMM PCLN GME FSTR KOP SNDA GENZ BIIB ERTS NVDA MSFT CCU LEH TWX DIS MS CL HET DELL;

LOSERS- BDK DOW LTD AA DD HAL INTC IP WY PFWD WX SID SNCR BCSI SNHY BBL BHP MTL CPLA LVLT EBAY NIHD ADBE PCAR SHLD;

VIX -FLAT;

Down volume 3X Up volume;

Market seems to be fairly resilient as everyday there is more bad news but the markets hang in and don't tan.

Technically, we continue to hold above the 50% retracement on the SPX at 1475 and the DJIA at 13,360. I almost feel like turning off the machines and coming back on Monday although maybe buying some EWA RSI (2) at 10. So yeah, buying it.