THE MORNING TRADE

Markets are trading up on the heels of Big Ben's new ideas to fight the credit crisis. The DJIA is +200, NAZ +48 and SPX +25. And crude up almost 2% to the $92 area pre inventory news.

Strong sectors- China, emerging markets, energy, homies, real estate, brokers and tech.

Weakest sectors- airlines, banks, utils, gaming, retail and drugs.

Key stocks-37 out of 40 green led by MTW VMW NVDA GS BIDU MS ICE AAPL AMZN and XOM- lower are BAC C MCD.

NYSE/NAZ internals- 3,500 net winners;

NDX- 91 WINNERS;

OEX-88 WINNERS;

IBD 100-96 WINNERS;

BIG WINNERS- EJ MTL VMW TKC FSTR DRYS CPLA MCHP NVDA JNPR CSCO JOYG MICC BIIB T GS EMC CSCO EP MMM SLB MS CVX AA;

LOSERS- WB BA BAC MCD COF C MRK CPB HET TGT ITEX CYNO SXE AKAM UAUA BEAS VRSN XMSRCHKP COST;

Interesting how the banks with problems such as BAC C WB are down 1%+ while the supposed good banks such as JPM MA MTB USB WFC are all solidly higher. Note the brokers also, all up 2 to 4% with GS higher by 4.25% after yesterday's big selloff.

VIX -21 and down a quick 11% while the new VXV is down almost 8%;

Up volume trouncing Down volume by 4X;

Technically, we are way above the 1,490 level and inter day resistance seems to be near 1,510. Note the 50 SMA at 1,500 level. The NDX looks good above 2,105 with resistance near 2,130. DJIA resistance near current levels with the 50 SMA below at 13/530.

Buying pullbacks to support areas looks like the way to go for now as the relevant moving averages are generally below these levels.