MORNING TRADE

As happens many times after a big trend day (up or down) the markets are just bouncing around between green and red. Strength is found in the metals, steel, emerging markets and oil while gaming, internets, semis and tech lag.

NYSE/NAZ flattish internals;

NDX/OEX- flattish internals;

VIX- down 1.5% at/near 23.5- and note that most Volatility indexes now trade in overbought areas near the 110% of the SMA 10- VXO VXN VXD;

Up volume slightly better than down;

Not sure how much I will day trade today as markets probably chop up many participants - only areas looking interesting is oil - buying dips may work there.