OPENING GAS

Markets are trading all over the map as buyers and sellers tug it out while the smell of gas permeates NYC.

The NAZ seems to be the strongest market as the NDX Futures continue to trade green along with the SEMIS.

Strongest sectors out of the gate include gaming, oils, metals, brokers, software and tech. Weak are airlines, internets, drugs, banks and homies.

The rate on the 10 year Bond seems to be drifting lower with a current quote of 4.66%.

The NDX index has bullish internals with about 60 winners and 40 losers while the SPX has about 190 green and 310 lower while the OEX is about 40 green and 60 red.

Overall, market internals are -400 on NYSE and -470 on NAZ.

I am still buying SMH as that looks like the mean reversion trade for 2007, so far anyway.

And Mark, the reason futures are better than the indexes this morning is because the futures tanked right after the close on Friday- Its called FAIR VALUE.