BINGO

Markets open way higher with the recently weak NAZ leading the way. In addition the $150 price target on the OIH has been hit in light of the OPEC decision this morning to cut production in February which sent crude higher. Glad I didn't sell it hard at $120 as Cramer instructed.

Strongest sectors include the recently weak semis, oil service, software, biotechs, retail, small caps, trannies, techs and gaming. Lower are airlines.

Note resistance today at DJIA 12,491, SPX 1424 and NDX 1,804.

Market internals are extremely strong with 3,000 more winners than losers.

The 10 year Bond is back to the 4.6% level.

One big heads up to the VIX and the VXO as both now trade in the mid 9 range with the VIX about 12.5% below its 10 day SMA.

GOOG AAPL and GS are all higher with GS back over the $200 level and GOOG struggling to get back to $485.

And my friends at minyanville.com are reporting that $5Billion of SPX Futures were bought minutes after the SPX made a fresh high.

And congrats to W as his approval ratings according to CNBC hits 34% and a disapproval rating of 61%.