THE OPEN

Markets open higher led by semis(+2%), brokers, metals, small caps and tech. Conspicuously missing are the oils, which have gone straight down since popping at the open. Also acting poorly are biotechs, drugs, homies and trannies.

Market internals show 2,000 more winners than losers after opening with 3k more winners, so a heads up as they have weakened through the opening 1/2 hour.

Winning DJIA components include CAT INTC IBM and UTX while laggards include DD GM HD and BA as 24 are higher and 6 lower.

Lousy home sale numbers hitting the tape as I type, but who expected different.

I am watching for a gap fill and will probably buy for a quick rental if we get close.