GREAT MARKETS

Markets are ripping higher as just about all sectors are in the plus category with the only notable stock not participating being AAPL on the heels of a bigger stock option backdating problem.

Leading sectors include metals, semis, biotechs, homies, trannies, brokers, software and internets. Oils, the dollar and the volatility indexes are the only red on the screen.

Market internals are overwhelmingly green with a net 1,700 gainers on NYSE and net +1,200 on NAZ.

The SPX 100 shows about 85 plus and 15 down with USB DOW HAL LTD and COF lower while UPS F AA MRK C and MS are leading higher.

On the NAZ 100, about 90 higher and 10 lower with AAPL PETM ESRX NTLI and ESRX leading lower and AKAM CKFR INTU PCAR and ATVI higher.

The DJIA Futures seemed to have run into a little resistance at the 12,560 level although I suspect pullback will be bought; the NAZ Futures are a bit disappointing as they are only up about 6 points on the heels of the fabu breadth. Also interesting to note that if QQQQ were a normal stock, it would be number 71 in performance on the NAZ 100 so far this morning. And I suspect folks will be kicking themselves for not buying some AAPL today.