MIDDAY PEAK

Markets continue to trade lower with very little in the way of bounces during the morning. One sector has emerged in the green, gaming, as there is finally some good news out of Macau.

Market internals continue to be terrible with 5/1 losers/winners on the NYSE and 3/1 losers/winners on the NAZ.

NDX- 8 WINNERS;

OEX- 7 WINNERS;

IBD -6 WINNERS;

DJIA - 1 WINNERS- MCD;

WINNERS- TITN KOP AFSI URBN AFSI LKQX FSTR GILD LEAP AKAM TLAB FWLT WYNN BIDU BEAS FDX KFT MCD HNZ DIS TGT;

LOSERS- S ATI BK EP LEH DELL AES BHI CMED HMSY ABV ARD RIO RTI CNQR PCLN ADSK HANS IACI JNPR RYAAY STLD VRTX CTSH DELL SHLD;

VIX +8%;

TRIN 1.81

Down Volume 9X Up volume;

The SPX continues to hold 1,340 and it will be interesting to see if it holds the rest of the day. Oil down about 85 cents while the OIH is down $5.5 or 3%- that is probably a nice buy if it gets to the low 170's.