MORE GREEN

Markets open higher again as they refuse to dip despite four consecutive 2 day RSI readings above 90 on the major market indexes.

Strong sectors include metals, silver stocks, oils, real estate, biotechs, banks, brokers, gaming and internets. Trading lower are airlines and semis. Also weak are Indian stocks including SAY INFY and CTSH.

Key stocks in the green include CME ICE BOT GS MER MS MA BIDU RIMM and INTC.

Market internals are strong with a net 760 green on the NYSE and net 540 green on the NAZ.

Internals on the NDX are very strong with over 70 of the 100 in the green while the OEX has over 65 green.

Winners include ACH VCLK ROCM RVSN MEDI BHI ORCL LTD HD AXP AMAT and ADSK.

Losers- MFB UCTT GROW NTAP BEAS GRMN CTSH MRVL MICC DD DOW HPQ EMC and KFT.

Generally when the NDX /OEX internals are strong (today), one wants to buy the dips as that is typically the highest probability day trade. Especially when the financials act well (today).

And note how the CNBC "journalists" continue to root for the bottom in housing. I think one guest this AM had it exactly correct, wait for inventory to start going down, then you have a good chance of calling a bottom; not when CNBC declares it - just remember how many times they called the tech bottom in 2000/2001/2002 etc. They are cheerleaders not market timers or analysts.