HIGHER OPEN

Markets open higher putting yesterday's drop quickly in the rear view mirror. I am a bit skeptical again though as the big cap SPY/DJIA are leading the "tech heavy" NAZ which has quickly flipped to red.

Strongest sectors include drugs, airlines, semis, brokers, financials and small caps. To the downside metals, oils and retail.

Market internals are good although off their highs especially on the NAZ. NYSE is +500 and NAZ +100.

The NAZ market has begun to bother me a bit as it has underperformed of late and is probably now in a downtrend. Remember, the NAZ leads.

As far as LVLT, it appears that someone has fleeced the opening buyers as the "equity" has already lost 3% from its $5.9 high of today.