THE OPEN

Markets open and sub prime /terror activity flip to the side lines as the SPX regains the 50 day SMA and the markets move decisively higher.

Strong sectors include utilities, fixed income, metals, oils, real estate, banks, semis and midcaps.

Strongest stocks include BK S MDT ATI VMED JOYG FLEX PCAR JNPR ERTS GSOL NVEC BTJ CMCO OPY and SPAN.

Weakest stocks include FMCN CYNO TLVT PCLN ICE FCSX AAPL LEH AVP ME MRK EP IP T MRVL and BEAS.

Market internals are very strong with a net of 1,750 green stocks on the NYSE and about 850 net green on the NAZ.

The OEX shows almost 9/1 winners to losers while the NDX is about 3/1 up to down.

Volatility indexes are down to the 15.5 levels and trading at/near their respective 10 day SMA's.

Finally, the NDX 100 is trading back at its 52 week high on the heels of recent strength in tech while the SPX is about 25 points below the recent high and the DJIA is about 200 off the all time high.