GAP FILL

As expected, the markets opened higher but have since sold off and now trade mixed.

Strong sectors include trannies, on the heels of Warren Buffet discovering the railroad industry, gaming, metals, utilities, emerging markets, real estate, defense and internets while biotechs and brokers trade lower.

Key stocks are mainly mixed with MA RIMM INTC TIF MGM ICE BOT WYNN INFY IBN all trading higher while MS BSC C BAC GOOG and AAPL are lower.

Big winners include CNI BNI DOW NSC INTC MEDI AES FDX F ATI WYNN EXPD and VRSN while losers include LINTA EXPE MXIM KLAC CTSH HPQ S AMGN MDT RF and EMC.

Volatility indexes slightly higher.

Market internals - mixed with the OEX at 60/40 and SPX 260/240 while the NDX is about 50/50.

Looks like a pretty dull trade this morning unless one came in heavily long the rails and in for full disclosure I am/was long FLA and CNI.