OPENING LOOK

Markets are moving on up yet again with the DJIA +86, NAZ+16 and SPX +9. Small and Mid cap are actually trailing as is value.

Strongest sectors include internets, airlines, semis, oils, defense, drugs and homies while metal stocks, banks and real estate are lagging.

NYSE internals +1050;

NAZ internals +585;

OEX- 75 WINNERS;

NDX -65 WINNERS;

IBD 100- 70 WINNERS;

VIX - lower by 5.5% and over sold;

Up Volume more than double Down Volume;

Banks are acting pretty crummey with XLF BAC C CFC JPM MA MTB USB WFC all red while LEH LM MER MS NDAQ red in the broker/xchange area. AIB BEN BSC CME GS ICE NMX NYX on the green side.

Other interesting stuff:

AMGN GILD +1%;

APC +1.8:

FTO +1.75%

TSO +2%

DECK +4.45%;

LTD +1.7%

AAPL +1.4%;

CTSH +3%;

EBAY +1.8%

GOOG +1%

RIMM+2%;

TXN +2.8%

I was expecting a sell off down to the 1500 level on the SPX but that was not to be as gapped up big this morning. Hopefully next week we get the buyable selloff down to that level.