OPENING CLUES

Markets open higher but a close look 30 minutes into trading makes me think this isn't going to hold. The financials started strong on the BSC news but have since flipped to red - check XLF BAC C CFC MA WB WFC BEN ETFC LEH LM MER TROW ICE all red. BSC opened higher and has flipped to red as folks look a bit closer at the huge loss.

Strongest sectors- internets, tech, airlines, reits, gaming, semis and large cap growth while metals, trannies, banks and retail lags.

NYSE- 525 net green;

NAZ- 460 net green;

NDX -70 GREEN;

OEX-60 GREEN;

IBD 100- 70 GREEN;

WINNERS- HRBN SNCR VIP CF RIMM AGU MEE LEAP ORCL CTAS INFY CTSH GENZ ATVI AKAM NXY BAX XRX CI IBM RTN MSFT DELL;

LOSERS- MER AXP WB LEH TGT FDX CELG EXPE PAYX MICC BBBY GSOL ATLS SYNA SNDA SID FTK PCLN DSX;

VIX- down 2% and trading at 21.25 -5% below the 10 day SMA;

The EWA is off about $1.4 but it went X DIV today and a distribution of $1.277 is due on January 2, 2008.

I don't expect much in the way of trading and may head out early to take care of some other business.