OPENING LOOK

The markets open lower but quickly flip to the upside as the internals started at 2k to the red and have flipped to 500 green. The Naz futures are up , the DJIA up 40 and I am back to daytrading mode. Twenty of the 30 DJIA stocks are trading higher led by HON MRK WMT T MMM; trailers are DIA AA and MO. One tell may be INTC trading higher in spite of more downgrades.

The oils have also flipped to the green as the OIH started the day down 2.5 and is now higher by 1.5 and the story of the day is MVK is at is be taking out with a 40% premium. MVK was mentioned as a long candidate several weeks ago at higher prices of course but now the trade is looking better. All of the MVK type companies including my favorite LSS are trading cheap and more deals/ higher prices in this space would not surprise me.