MIDDAY CHECK

the NDX/NAZ are trading higher while the other major indexes are trading around the flat line thanks to the fine action in the financials thanks to great comments out of C. Well a tad tongue in cheek there but the banks seem to put in a new bottom just about every day.

Strong sectors include trannies, semis, shipping, drugs and defense while banks, brokers, oils, gaming and ags lag.

NYSE - 250 net losers;

NAZ - 170 net winners;

NDX- 75 GREEN;

OEX- 60 GREEN;

IBD- 40 GREEN;

VIX- under 22 and lower by 2.5%;

Down volume still better than up;

TRIN- 1.00;

Still expecting 1325 on the SPX but dipping in for some oils here DIG OIH XLE- as buying the dips there has been frutiful on just about every dip- oh and shorting XLF or long SKF on pullbacks - that seems to work every time also.