THE OPEN

Markets open mixed with the Big Cap OEX index acting best while the "TECH HEAVY" NAZ/NDX is acting the worst. The midcaps and Russell 2k are continuing their recent under performance.

Strong sectors include banks, Xchanges, utlities, oils, real estate, defense and large cap value. Weakest links include silver stocks, emerging markets, metals, internets, semis, brokers, biotechs, trannies and small caps.

Key stocks are mixed with C JPM MA MER CME ICE BOT ISE GOOG AAPL KLAC and MSFT all higher while GS LEH LM BSC MS INTC and CSCO are all lower.

Market internals are mixed on the NYSE while they are weak on the NAZ.

The OEX shows about 2 up to 3 down while the NDX is a bit worse at 3 up to 7 down.

Big winners include NVDA DELL AKAM TLAB LOGI PTEN AMGN XRX C PG and BHI while biggest losers include HIG WY LTD TGT AA INTC CSC NIHD MCHP ADBE CDNS SEPR and TEVA.

IBD winners include ROCM SPTN SIMO GROW and ICE while MTOX CF WFR WCG VSEA FLIR and AQNT are the biggest losers.

Volatility indexes nowhere as the VIX/VXO combo trades up about 3%.

The morning action seems very uninspiring and a later day lift seems more likely than not.