OPENING LOOK

Markets open mixed with some of the recent leaders starting lower including SMH and IWM. I would watch those two ETF's as they led the rally yesterday afternoon and they will probably be a pretty good tell today of which way this market is going.

Banks and brokers are trading flat while metals and drugs are higher. Oils, airlines, biotechs, retailers, semis and trannies lower. Market internals are fairly flat with NYSE a bit green with NAZ slightly red.

Mark Haines is back on the oil kick hoping crude is rolling over; please don't tell Mark that the game is to buy low and sell high and right now its probably a time to buy.