THE GAP

The market is set to gap up this morning with SP500 futures higher by 5.5 points bringing the SPY back above today's Pivot to the 131 level. Generally, the high percentage trade is to fade the gap or buy a closing of the gap and that will be my strategy.

Chatter continues about Big Ben and Queen Maria and something tells me some CNBC/GE brass had a little talk with her (can you do this more often).

My watch list for the day includes HAL TXN and the brokers (BSC LEH LM GS MER).