AFTERNOON FAKE

Markets sold off after the opening euphoria and are now trading flat on the DJIA, +5 on SPX and +21 on the NAZ.

Strong sectors- gamings, semis, homies and trannies while drugs, real estate, utils and banks lag.

NYSE- 1050 net green;

NAZ- 520 net green;

NDX- 75 GREEN;

OEX- 55 GREEN;

VIX- near the unchanged level at 36.6;

TRIN- .97 with up volume about 2x the down;

Gold higher and crude lower;

Markets in the buy em lower sell em higher mood as the trend followers are now getting whipsawed ugly-

Decent day trading day with good profits on QLD - small loss on IYR and still riding MS - a close near the highs- ? Don't be surprised as the internals have held up through all the down drafts- and it seems there are lots of folks leaning short - and having to cover.