THE OPEN

Markets are open but they are hardly doing much in the early trade. The DJIA is -17, NAZ +2.5 and SPX -4. RUT/MID about in line with the SPX.

Strongest sectors airlines, defense, internets, semis tech and utils while oil service, metals, emerging markets, reits and homies lag.

NYSE internals - 800 net red;

NAZ internals 370 net red;

NDX 40 WINNERS;

OEX 33 WINNERS;

Key stocks/etfs- 17 GREEN 23 RED;

Key stock winners- GRMN ICE ISRG RIMM NYX AMZN AAPL MTW CAT COST;

Key stock losers- MER XOM POT WYNN BAM WFC LVS C MS MA BAC;

Biggest WINNERS- GRMN AKAM BRCM ISRG RIMM SYMC AMZN AAPL UAUA LAMR GD HPQ CAT RTN GOOG XRX INTC IBM TRMB TBSI GLNG DRYS VDSI CTRP FMCN SYNA NILE;

Biggest LOSERS- TKC CRNT DWSN SNP OMCL BBL PAY NOV MER LTD S TGT AA COF EK NIHD MICC AMLN CTSH LVLT S BIIB GILD APOL EXPE QCOM;

Volatility indexes up about 3 or 4% and trading near the 10 day SMA;

Internals are lousy and financials look weak this morning however the NDX/COMPQ is bucking the trend is higher. I suspect the markets may get a lift this afternoon on the heels of the strong NAZ.