THE OPEN

So far the mirror of yesterday as the gap lower gets bought and some of the market bell whethers such as GS C MA BSC LEH MER MS AAPL RIMM INTC are trading green.

Strongest sectors- semis, retail, oil service, brokers, tech and real estate while telecom, gaming, utils, drugs, defense and airlines lag.

Key stocks- 15 out of 40 green - leaders- KLAC POT MER GS MS VMW RIMM GRMN SMH UA - laggards- BIDU CME MGM NVDA CELG LVS GOOG BG MTW WYNN;

NYSE- 1,160 net losers;

NAZ- 640 net losers;

NDX- 55 WINNERS;

OEX-25 WINNERS;

IBD- 35 WINNERS;

The next level of importance on the SPX is the 1,340 area and so far its holding but its still early in the day. If that gives way then the 1,315 area, which is the recent low.

I think we are just going to chop around - so it may be an uneventful day.