THE OPEN

Markets open mixed with the NDX higher and the other major indexes lower. Tech, semis and biotechs are leading while financials are of course lagging. Other laggards include homies, metals, utilities, real estate, internets and retail.

Market internals are red 965 on the NYSE (improving) and red 440 on the NAZ.

NDX :58 GREEN led by TLAB XMSR RIMM CELG AMAT AAPL SIRI JOYG BIIB GRMN;

LOSERS- LINTA CTSH SHLD MICC MRVL ORCL WYNN S VMED EXPE VMED;

OEX: 23 GREEN - WINNERS- DELL CSCO BHI HON BAX HAL DOW CSC ATI;

LOSERS- WMT MS WB TWX USB HIG MRK AIG DIS RF C MER;

IBD 100- 55 WINNERS- EXP VIP RIMM DRYS VSEA GTI AAPL NVT LAYN WFR;

LOSERS- ACH MW WBD GSOL BTJ GES PDA MA PCP AIRM;

VIX/VXO up about 45;

Strength in the NDX /TECH/SMH led me to dip in and buy some tech and some futures; for what ever reason the markets looks like it wants to go higher despite the crummy action in the financials. My guess is that if the NDX can build some headway it will drag the brokers/banks right along. STOPS AT 1430 on the SPX with an initial target near 1480.