MIDDAY VIBES

Most of the major indexes are shaking off the lower open as tech tries to lead us out of the doldrums. The DJIA is irrelevant IMVHO and when/if it breaks through the old lows the other indexes probably will not.

One strategy - long QLD/DXD and that trade has been working for a while-note the action in RIMM AAPL GOOG - all green;

Strongest sectors- biotech, semis and tech while banks, real estate, homies, brokers and utils lag.

NYSE- 1300 net losers;

NAZ- 450 net losers;

NDX- 45 GREEN;

OEX- 15 GREEN;

VIX- flattish at 44.25;

TRIN- 1.3;

TRINQ .67

Up volume ahead of down on the NAZ and down about 3/1 over the up on the NYSE- interesting;

WINNERS- KO QCOM UNH AAPL GOOG AVP NTAP IACI VRTX ADBE ISRG BRCM FAST RIIM BIIB;

LOSERS- JOYG APOL AMAT FMCN PCAR WFMI WFC USB RF BAC AXP BK JPM COF NYX BNI BHI;

RSI (2) levels -

SPX 20

NAZ 24

NDX 31

RUT 19

DJIA 17

XLE 9

OIH 11