NOON LULL

Markets have begun to oscillate between down 50 and down 200 on the DJIA- The RUT (IWM) and Small Cap Value are green as I type although no notice on CNBC.

Strongest sectors-retail, real estate, banks, brokers, homies, metals and gaming (all green), while emerging markets, tech, drugs, semis, utils, ags and oils all ugly red;

Key stocks- 12 out of 40 green led higher by UA MS BAC MER DECK MA GS MGM CME CAT- lower- VMW NVDA GRMN CELG MSFT AAPL MTW KO PG GOOG;

Up vol-514

Down vol- 840

TRIN-.95

VIX +14%;

SPX sectors from best to worst:

XLF +2%

XLY +1.3%

XLI FLAT;

XLB -1.4%

XLP -1.6%

XLK-2.5%

XLE -2.5%

XLV -3.1%

XLU -3.25%

NYSE - 825 net red;

NAZ- 1,000 net red;

OEX- 25 GREEN;

NDX-10 GREEN;

IBD 100- 20 GREEN;

If you think the lows are in on stocks - some FIBS to look at on the SPX (1576 to 1,274)-

23.6 1,345

38.2 1,390

50 1,425

61.8 1,460

76.4 1,505

And my strategy here- buying QID higher as I suspect strength will be sold a few times before its done.