OPENING BOUNCE

Markets open higher and Turnaround Tuesday is firmly in place. The DJIA +77, NAZ +26 and SPX +12.

Strongest sectors inlcude the beat up metals, Australia, gaming, emerging markets, brokers, reits, oils, small caps value and tech. Weakest include biotech, banks and drugs.

Key tell stocks are mainly higher with the brokers led by LEH BSC and GS solidly green; GOOG and AAPL also up nicely.

Market internals as good as they get with a net 3,600 green on the NYSE and NAZ.

The OEX/NDX both with 4/1 green /red ratios and the SPX with 420 up and 80 down.

The IBD 100 MOMENTUM stocks are about 9/1 up to down.

Biggest winners include HMIN HRT HURC MR BTJ DWSN INFY TEVA WYNN SNDK ATI AES LEH GS GOOG and ORCL.

Biggest losers include MCD AMGN EMC CCU F EXPE LINTA MNST SEPR and IACI.

Volatility indexes down over 11% and hardly back in sell areas but my guess selling some here if you bought yesterday is probably not the worst move.

The 2 day RSI on SPX /DJIA near the 30 level.

In light of this recent big down trend, one can anticipate the buyers will be quick flippers and that is why I say smoke em if you got em.