SUBSIDING

Markets moving up at 10:00 on the heels of Big Ben's inflation comments "subsiding". Just wish the ice storm in Chappaqua would subside.

DJIA +60, NAZ +24 and SPX +10.

The DJIA is at all time high as I type while the SPX is back at the recent top.

The 10 year Bond is off about 5 BPS on the news and the rate is down to 4.766%.

Every sector is green with internets, brokers, semis, gaming, banks and tech leading.

Market internals are very strong with a net 1,660 green on NYSE and 965 green on NAZ.

On the indexes, NDX has about 97 green (hmmmm), OEX 90 green and SPX about 445 green.

Fly in the ointment, the midcaps and small caps are lagging but it always something.

Key stocks, GS GOOG ICE MS IAI KLAC MER all solidly green while NYX lags.

Those semis even has some jig on the AMAT news and are leading the NAZ up 1.25%.

Volatility indexes crushed again with the VXO at what appears to be near a new low at 9.35 and VIX at 9.78. Those are levels where one probably doesn't want to do much buying.