NOON MUSINGS

Markets are mixed at the noon hour after ripping higher earlier. What happened, the Justice Department decided to run a headline that said they are "interested in review of MSFT YHOO deal."

MID's up almost 1% while the NAZ/DJIA are red;

Strongest sectors- HHH SMH FXI SOX RMZ MOO RMZ XLU- laggards- HUI RLX HGX XLY;

NYSE- 1100 net winners;
NAZ- 350 net winners;
NDX- 60 GREEN;
OEX-70 GREEN;
IBD 100-70 GREEN;

VIX- down 5% and sitting near sell territory;

Up vol- more than 2X Down vol;

TRIN- .94;

In addition to the Justice department news, markets hit a wall near the January 16 highs near the 1,390 level. Lots of resistance near there.

The good news for the day- internals are very strong in light of the mixed indexes and the important sectors are doing pretty well. My guess is another ramp higher before the afternoon trading ends.

And any shot that GOOG becomes the next AOL?