PRE FED LOOK

The anticipated pre fed snoozefest has materialized as the markets trade near the unchanged line at the noon hour.

Best sectors include internets, metals, tech, oil service and large cap value while airlines, banks, homies, brokers and retail lags.

Key stocks- 50/50 with MA CELG VMW AMZN BIDU and NVDA higher while GRMN MER KLAC BG MTW MS UA LVS WYNN and MGM are lower;

NYSE- 540 net red;

NAZ- FLAT;

NDX- 45 WINNERS- JNPR CSCO CELG BIIB EBAY AMZN ERIC NVDA SEPR CTSH;

OEX-35 WINNERS- T TXN HAL MCD EMC BHI CL WMT PEP NSM;

IBD 100-53 WINNERS- SNCR MA MORN ABAX WFR CPLA BCSI GSOL EDU FCSX;

VIX- up 2% to 21.15 and about 5% below the 10 day SMA;

Up volume 2/3 of Down volume;

Financials continue to lag after acting very well yesterday so any rate cut today may be baked in the markets cake. Biggest losers in the group include CFC MTB WFC BEN BSC MER and MS.

Green stocks are found in tech with AAPL nearing the $200 line and in the oils as crude is trading up almost $2 and nearing the $90 number.