OPENING FAKE

Markets open higher after an initial ramp on the LEH/ BBY/ inflation news but have since come in off the highs and most of the brokers have flipped to flat after trading much higher in the pre market.

Strongest sectors include retail, utils, biotech, tech and semis while brokers, metals, homies and small caps lag.

NYSE internals +900 after being at about +1200 near the open;

NAZ internals FLAT- after opening strong;

OEX 75 WINNERS;

NDX 70 WINNERS;

Strong stocks- WMFI NVDA AKAM CTSH ADBE ATI ROK LTD DD CAT UTX MMM CL BIDU BBL BHP MT NILE TEF PDA FTO;

Weak stocks- DRYS TBSI BLUD FDX AMGN GM BA MSFT MER HON CMCSA NTAP XMSR AMLN LVLT BEAS CROX CME NYX BSC MER;

VIX down 2% and flopping around near the 10 day SMA for what seems like weeks;

Up Volume almost triple Down Volume on the NYSE;

This rally doesn't give me a warm feeling as it feels like traders want to fade the bullish morning news. Of course that will all change at 2:15 PM as Big Ben tells us what he thinks.

Other stuff:

LVS/WYNN duo continue to act very well and seem to lift just about every day;

Oils getting a little bid with CNQ FTO RIG XOM all nicely higher;

Retail, a recent laggard is very strong with DECK GES KSS M TGT WFMI all green;

Tech, a mixed bag with SMH XLK AKAM AMZN CTSH GOOG IBM INTC NVDA SNDK higher and TXN YHOO MSFT MOT INFY AAPL all lower;