NOON MOVE

Markets are moving higher on the heels of boring testimony by Dodd etal regarding BSC/ JPM and the fix. The DJIA +64, NAZ +12 and SPX +8.

Strongest sectors- ags, china, semis, brokers, reits and real estate while retail, defense, utils and biotech lags.

Key stocks - 27/40 higher led by RIMM BG MON POT NYX- losers- AMZN GOOG CAT NVDA MGM MCD UA CELG;

NYSE- 600 net winners;

NAZ- 85 net winners;

NDX-55 GREEN;

OEX- 60 GREEN;

IBD -70 GREEN;

WINNERS- CF MOS RIMM AGU CLR NIHD SNDK TLAB BRCM LRCX JOYG AA F NYX AAPL GM C MER LEH TXN;

LOSERS- CSCO CPB GOOG AMZN CAT XRX KFT CSC LOGI GRMN CHRW XRAY LAMR FLEX URBN ISYS KEX AIRM EXPO;

VIX- flattish;

Up volume 2x Down;

All of a sudden emerging markets and Australia/Latin America getting a bid;

SPX moving on up and next stop for resistance should be at/near 1380 - the spot of the 38.2 FIB and the SMA 90. Also the highs from Feb 1 at/near 1395. My longs from this morning looking pretty pretty good as for now its a buy the pullback market.