OPENING LOOK

Some interesting action this morning as the markets are mixed; the utilities, however are higher by 1% and are the sector stand out.

Brokers, oils, metals, drugs, biotechs and oils the stand out performers while real estate, homies, retail, gaming and trannies lag.

Key stocks are generally higher led by MS ICE CME NYX MA INFY DNA CELG GILD GRMN RIMM IBM and HPQ. Lower are GOOG C SLG AMGN MGM FDX UPS QCOM UAUA IP ATI and WMT.

Biggest gainers inlcude SYNL BCSI SPSS IDSA EDU DRYS TWIN MICC JNPR PTEN EXC MS GM SO and DOW.

Biggest losers- ATI EK RTN MDT GD LOGI AMZN ROST WFMI CDNS X SRSL DSX TBSI WRNC COH and SNHY.

Market internals are mixed on the NYSE/NAZ while the OEX/NDX shows a little better than 50/50 between winners and losers.

Volatility indexes basically unchanged/

I find the action in the utilities/brokers and Xchanges to be encouraging while the Midcaps/Smallcaps under perform.

The 10 year Bond seems to be hanging in under the 5.15% level and my guess is that if it stays there or goes lower, equities will go higher.