PRE MARKET

Futures markets are rallying and the DJIA is set to open at another all time high and the SPX should open above 1,500 on the productivity gains numbers which were much better than expected at +1.7% vs. .8% consensus.

Gapping up - EPCT QMED NVEC YMI BUF SMDI MRX TSYS ALAN RNWK SLW SYMC EFUT CEGE and gapping down - TLB SMSI JDSU AHO RIGL INCY ANDE CELG APKT TSO UBS LVS SUN WYNN AGU. Note the refiners getting hammered on the TSO miss so this may trigger a Buying opportunity in the refinery patch. B of A beats me to the punch and comments Q1 miss on SUN likely creates a "buying window."

MGM also missed its numbers and if that gets hit it may be a nice opportunity to buy the dip.