MIDDAY MUCK

Markets continue to bend but not break as every time it looks like they are going to head lower the buyers step up.

SPX -5.5 and NAZ -16.

Strong sectors- metals, banks, gaming and brokers while semis, real estate, homies and trannies lag.

NYSE- 750 net red;

NAZ- 820 net red;

NDX- 20 GREEN;

OEX - 30 GREEN;

WINNERS- ESRX YHOO BIDU CEPH FMCN CELG VRTX C AXP BAC GE RF COF GS;

LOSERS- BA XRX HON S TWX EMC WMB UTX LOGI SYMC NVDA MRVL FLEX JAVA;

VIX- up 4% at 38;

TRIN- .48 as up volume still 1.5X the down;

Lots of cross currents still and a rally into the close is probably the way the markets finish today (out on little limb) as for now all the dips in the fins get bought.

Kass seeing a cloudy future;

BESPOKE looking at over bought levels;

VIX +MORE on the VIX;