AFTERNOON SLOP

Sloppy day for the equity markets as the SPX is off about 4, NAZ -8.5 and the DJIA -22 at about 12.45 eastern time.

Strongest sectors- gaming, bonds, trannies and emerging market bonds- laggards- nat gas, reits, real estate, defense, banks and biotech.

NYSE internals- 1235/1720;

SPX 150/350;

NDX 22/78;

RUT 515/1310;

VIX- higher by 4% at about 22.6 and about 2% above the SMA 10;

Gold- unchanged near 1299;

10 year bond - 2.52% with the TLT up about 1.6%;

A pretty ho hum day as the market consolidates from the big ramp on Friday- looking for a move higher later in the week - seems like folks will want to to goose in from of month/quarter end-