THE OPEN

Markets open higher but traders seem to be holding their breath waiting on the news from MBIA as the stock is halted again. The DJIA is +40, NAZ +5 and SPX +4.

Strong sectors include metals, brokers, banks, oil service and large cap value- weak links include airlines, retail, biotech, semis and trannies.

Key stocks- generally higher led by MA VMW NYX MCD NVDA POT BAC and DECK while CELG BG TIF AMZN INTC UA BIDU and MGM are red.

VIX -UNCHANGED;

Internals are creeping up as I type with NYSE +500 and NAZ +350;

NDX -50 GREEN;

OEX-60 GREEN;

IBD 100- 75 GREEN;

WINNERS- MR GIGM STP FMCN HRBN BGCSI BAP DRYS CTRP FSTR VMED ERTS NVDA MICC CTSH CEPH JPM ALL WB MCD C GS LEH RF;

LOSERS- AMGN LTD HD INTC BA TXN BA TELOZ AHGU EJ CCH CHL AMZN FLIR CELG UAUA LVLT SEPR SNDK YHOO AMZN;

The NDX is no cooperating as it is the one major index that is lower - getting hit on CELG AMGN news while semis are lower.

Technically, the markets continue to act well and pullback are probably low risk trading opportunities. Levels that may be buyable should the markets retreat include 2,105 on the NDX, 1490/1,500 on the SPX and 13600/13,630 on the DJIA.

RSI (2) are still way overbought as most indexes trade with reading at/near 90. Doesn't seem like they will ever come in but I bet they do.