THE OPEN

Markets open ever so slightly higher led by OILS, airlines, metals, trannies, GOOG, AAPL, and small caps; lagging are drugs, biotechs, consumers, GS and internets.

Banks and brokers are flat and semis and techs are selling off as I type.

Market internals are somewhat bullish with about 800 more shares higher than lower.

The surprise of the day is probably the move in oil stocks as the OIH is up almost 2% on the heels of a 35 cent jump in crude. Crude inventories are due out at 10:30 and I suspect the reaction will be bullish regardless of the numbers as many try the reversion to the mean trade.

More food for thought; Why does CNBC constantly remind me that we are only 250 odd DJIA points away from an all time high while they never tell me that we are 2,910 points away from an all time high on the NAZ COMP. We trade at 43% of the NAZ COMP all time high and need to go up 131% to reach the high from March of 2000. I guess news is only supposed to be cheery and wonderful no matter what an investors pockets may contain.