Toronto stocks are pulling back a little in a mixed trading session Thursday. The S&P/TSX is down a seven points to 7,573.

Trading is active, with 159.2 million shares crossing the floor. Buying volume is almost double the selling. Market breadth is negative however, with losers outnumbering winners by a 29:22 margin.

The gains continue in the tech sector today, and there is some strength in golds, too. Biotechs are leading the way down, with health care stocks dropping 1.1%. There is also modest selling in utilities, real estate, financials and energy.

Nortel continues to lead the trade, gaining 3% on huge volume of 31.7 million shares. Traders continue to revel in the idea that tech spending is reviving. There is also strength in Tundra Semiconductor and Theratechnologies. However, Descartes Systems is down after news its chairman has resigned.

Traders are backing away from biotech shares. Angiotech is leading the way down, dropping 6%. There is also weakness in VSM Medtech, Patheon and Extendicare.

Blue chip stocks are giving up some of their gains, with weakness in banks and energy plays. TD Bank is leading the bankers lower, down 0.9%. Royal Bank is weak, too, although Manulife and Sun Life are taking up some of the slack. Brokerage firm Rockwater Capital is enjoying an 11.7% gain on 1.45 million shares.

In the energy area, Talisman Energy, Gabriel Resources and Acclaim Energy Trust are all down.

Gold stocks such as Wheaton River and Rio Narcea are stronger. Bombardier and Air Canada are bouncing back, too.

In earnings news, MDS reported that its earnings increased to $33 million in its third quarter.

On the M&A front, Transat AT reports that it is having discussions with potential buyers for the sale of its French subsidiary, Anyway, a France-based online travel agency.

In New York, stocks are in a holding pattern, after some weak jobless data took some of the steam out of traders.

The Dow Jones industrial average is down two points at midday to 9,567. The Nasdaq composite index is holding a five point gain at 1,858. The S&P 500 is flat at 1,026.

The S&P/TSX Venture composite index is down three ticks to 1,323. Volume is strong there too at 35.3 million shares. Miranda Mining is leading the trade, up 20¢ to 70¢ on more than 6 million shares traded.