MIDDAY CHOP

Markets have flipped to flat as the early strength in the NAZ/NDX was a pretty good signal of a short term rally.

Strongest sectors include internets, semis, biotech, telecom, tech and drugs while metals, junk bonds, shipping and defense lag.

NYSE- 470 net losers;

NAZ- flat;

NDX/OEX - 55 greeen on each;

Down volume a hair better than up;

TRIN- 1.04;

GOLD down about $16 while Crude is down about 50 Cents;

Markets are over sold and with an old NFC team winning the super bowl- well - yeah looks like a choppy market for the balance fo the day - but its probably a good sign that we didn't go under the 7900 level on the DJIA or 800 on the SPX.