MORNING CALL

Markets open mixed with the NAZ and tech acting best. And how long has it been since tech led? The DJIA is flat, NAZ +8 and SPX +3. And how long has it been since the Kramer call of "tech can't be owned except for GOOG AAPL MSFT CSCO." I don't think GOOG or AAPL has seen an up day since that great call.

Strongest sectors include homies, tech, semis, software, biotech, defense, brokers, drugs, financials, trannies, retail and small cap value. Leading lower are metals, silver stocks, integrated oils, oi service and airlines.

Key stocks are mostly green with ICE AAPL GS MS IAI leading and CME BOT NYX and GOOG heading lower.

Market internals are slightly green with +470 on NYSE and +275 on NAZ.

SPX has about 295 green; NDX 65 green and OEX 57 up.

Volatility indexes should head lower with the big weekend right in front and I am still looking for the 9.75 level on VIX/VXO (recent lows) as a pretty good sell signal. To be clear I have sold longs but am still waiting for a top early next week.