OPENING LOOK

Markets open slightly weaker this morning but quickly ripped higher on the heels of a large demand for equities

The demand for small caps (IWM+.7%) is outstripping the demand for large caps (SPX +.44%) and the demand for NAZ 100 stocks is out doing both as the QQQQ is +1.1%.

I have no clue why and it really doens't matter, just trade what you see on the screens.

The market internals are no quite confirming the major market indexes with only about 1,200 more winners than losers.

The TICK has had a few readings of well above 1,000 already this morning and is one indicator confirming an overwhelming demand for stocks.

Looks like investors have finally decided that WMT is cheap enough as the stock is up over 5% while the retail sector is up about 1.75%.

Sectors acting well today include retail, airlines, oil service, brokers, semis, small caps, tech, internets and financials. To the downside, metals, drugs and integrated oils.

And for the reversion to the mean traders, SMH+.92% and SWH +.51%.