MORNING BUCK

Markets are chopping around the flat line this morning and as long as the dollar points north I suspect we will have trouble making any bullish progress.

Stongest sectors- oil service, banks, internets, gaming and junk while homies, biotech, reits, defense and airlines lag.

NYSE- 450 net losers;

NAZ- 350 net losers;

SPX - 180/320;

NDX 34 GREEN;

VIX- down 1% at 25.35;

TRIN .69 with up and down volume about equal.

WINNERS - AMZN COST SLB CVS UNH SHLD CERN RIMM BIDU APOL STLD;

LOSERS- CEPH ORLY INFY KLAC XLNX T LMT VZ LOW BA TWX GD WY MRK;

Very choppy day so far and one full eye focused on the dollar which is definitely on an uptrend on the 30 min chart. Not sure how long it lasts but if it turns down equities probably rip higher.