MIXED OPEN

Markets open mixed with oils and metals leading and financials/ trannies lagging.

Strongest sectors - metals, biotech, oils, gaming and utilities while airlines, homies, brokers, trannies and real estate lag.

Market internals- a little net red on the NYSE and FLAT on the NAZ.

OEX- 40 GREEN led by TGT COP ETR WMT MMM CVX MSFT AA BHI VZ KO;

LOSERS- CPB WFC NSC GM ORCL BA UPS MS IBM GOOG RDK LTD CSC;

NDX - 50 GREEN- led by BIIB SIRI GENZ XMSR CELG GILD SEPR TLAB NVDA SIAL;

LOSERS- LVLT AAPL FAST UAUA YHOO MRVL EXPD ALTR AKAM ORCL RIMM XLNX SNDK;

VIX up another 1% and DOWN Volume beating UP VOLUME by about 50%;

Shaping up to be a tough day for Big Cap tech as AAPL BIDU GOOG IBM RIMM SNDK YHOO all red; KLAC MSFT NVDA green;

Maybe just a range bound day as internals aren't terrible while banks and brokers continue to drip lower. Retail has flipped to red after the promising open and yikes John Chambers at CSCO continues to be bullish and has reiterated guidance.

Oil trading above $77 and I will make the bold prediction of $80 before $50.

Technically, the SPX has support at 1460/1465 levels as the 200 day SMA and the 50% retracement levels loom.