MIDDAY UPDATE

Markets are just bouncing around in the early afternoon with losers slightly ahead of gainers - not that bad in light of the horrible jobs report-

Strongest sectors- airlines, metals, internets, gaming and retail while nat gas, ags, reits, energy and small caps lag.

NYSE-flat internals;

NAZ- 350 net losers;

SPX- 285/205;

NDX- 64/32;

VIX- down 5% at 24.1;

TRIN- .97- up and down volume about equal;

Equities are over bought in the short term - but I bet there are plenty of folks who want to buy the next dip- still thinking we can tag 1100 on the SPX next week- note the recent under performance of the EWA EWC EWZ of late - thinking that wont last and wondering if there may be a trade going long the EWC and short the SPX.