AFTERNOON RAMP

Markets have been ramping higher since the open and higher prices into the close would not be shocking. The DJIA +201, NAZ +33 and SPX +19. Be advised the all time high on the SPX is 1,552, DJIA all time high gone around 10 am this morning, NAZ all time high, eh, forget about it.

Sub prime issues, that was Tuesday's worry. Today- nah.

Prices are being led by higher by banks, semis, brokers, retail, oils, drugs and internets; lagging are airlines and biotech.

Big winners inlcude FAST ROST INTC SNDK CTSH AMZN GRMN AA BDK AXP TGT ATI COP MRK MER MS BSC CME BOT NMX CENX FCSX MTL FTK RIO DXPE PCR HDNG BAP and DRYS.

Big losers- SPAN SIMO NTGR SPTN MTOX TYC AES GOOG S TWX MDT WFMI ERTS GENZ IGT GILD HOC VLO and NYX.

Market internals are strong with 1,275 net green on the NYSE and 1,080 net green on the NAZ.

OEX very strong with almost 9/1 up to down while the NDX is about 3/1.

Volatility indexes down about 10% and now trading at about 4% under the 10 day SMA's and may be indicating that this rally still has some juice.

The 2 day RSI numbers on the major indexes as follows:

DJIA 87

SPX 81

NDX 87

RUT 76

MID 78

Those numbers also indicating that the rally may go further as I like to see 90 before I sell. Maybe before today's closing bell.