MORNING TRADE

Markets are trading lower but off their worst levels of the morning.

Leading sectors include semis, oils, utils and homies while shipping, insurance, emerging markets and financials lag.

NYSE- 1200 net losers;

NAZ - 600 net losers;

NDX- 35 GREEN;

OEX- 20 GREEN;

IBD - 35 GREEN;

VIX - moving up with 21 the next target- higher by 3%;

Down volume double the up;

Looks like the NDX is out performing and I have bought some QLD for a day trade- as I doubt oil/nat gas is going in a straight line higher - so buying dips selling rips -