MORNING TRADE

Markets open lowered but quickly flipped to green and have settled back in the red except for the NAZ/NDX and the RUT- The SPX -2.5 and the NAZ +4.5.

Strong sectors- shipping, internets, defense and brokers while banks, gaming, drugs and real estate lags.

NYSE- flat internals;

NAZ- 250 net green;

NDX- 60 GREEN;

OEX- 45 GREEN;

VIX - flat at 39.5;

TRIN- 1.45 with down volume almost double the up;

Gold up about $5 and crude down another buck at $47.5;

Markets looking like a slow choppy drip lower day but not as exaggerated as yesterday- support areas at 825 on SPX - and expecting lots of opportunity from both sides-