MIDDAY SNOOZE

Markets are trading flat as the sell off in oil did not get the markets moving higher as the story continues to be the FNM/FRE situation-

DJIA +30, NAZ +3 and SPX +2;

Strong sectors- steel, ags, oils, telecom and utils while gaming, brokers, real estate and drugs lag;

NYSE/NAZ flat internals;

VIX- down 3% at/near 20.7;

Up volume a shade better than down;

Tough to call the afternoon as the markets just seem to want to oscillate between green and red-