AFTERNOON TRADE

Markets are trading mixed with the DJIA +53, NAZ -5 and SPX +8.

Strong sectors include steel, utils, telecom, oils, drugs and trannies while insurance, homies, financials, banks and semis lag.

NYSE- flat internals;

NAZ- 300 net losers;

NDX- OEX- each with 70 green;

VIX- flat;

TRIN- .85 - Up volume a bit better than down;

gold/crude - flatlining at $927 and $141;

Big caps doing better than the RUT/MID and the NAZ/NDX and that shouldn't surprise in light of the recent pounding the DJIA has take.

My take for now is we arent going much higher or lower for now and choppy trade will probably be the way. And any significant pop higher probably gets shorted - FWIW.

One area to buy if it "dips" the oil patch - as it seems to be in a nice consolidation and if oil drops a bit and the market does head hight my guess DIG goes along higher.