MIDDAY SWOON

Markets back down after an early move higher after lower futures- SPX -4, NAZ -17 so not so good as I type.

Strong sectors- banks, energy, retail and shipping;

NYSE- 1,000 net losers;

NAZ- 780 net losers;

NDX- 20 GREEN;

OEX- 33 GREEN;

VIX- a bit higher at 49.6;

Crude +2$ at 46.6;

Gold- lower by $20 at $919;

Probably lots of disappointed folks as this market trends lower in the early afternoon - Kass probably number one on the list-

FIBQUEEN with an interesting twitpic;

Adam on the state of the VIX;

Graham on his earmarks;

Another Joe switch;

10 Newspapers to watch;

And TWITTER self promotion;

RSI (2) levels at near 15 on major indexes - looking for some chop this afternoon but probably very little in the way of afternoon trading.