rippin rippin

Markets ripping higher on the heels of 1) over sold conditions- 2) GS/LEH earnings beating expectations- 3) oil and gold well off their highs.

DJIA +217, NAZ +41 SPX +27.

Strongest sectors- brokers, homies, banks, oil service, real estate and reits while metals, biotech, telecom and semis lag.

Key stocks -all 40 higher- leaders- GS MS MER NYX ICE UA DECK LVS CME GRMN;

NYSE- 2350 net winners;

NAZ -1500 net winners;

NDX- 96 WINNERS;

OEX- 97 WINNERS;

The NYSE - haven't seen this kind of adv/decl line in a long time -almost 10 up to each loser;

WINNERS- LEH CCU GS MER MS BK NYX GM FMCN YHOO FWLT GRMN MICC SPLS CTSH AMZN WFMI CSX OXY FSLR NXY STT ;

LOSERS- SMTS DLB AFAM AUY CTRP AMGN VRTX GENZ LEAP CMCSA CI IP;

Pretty pretty good as I type and just wondering if we may not be up huge by the end of the day (DJIA +500). Funny as it could happen with this (pictured) in the backdrop.

Levels to watch- SPX 1315- (support before March 6) after that 24.6 FIB at 1340.

Doug Kass with a terrific article on why we could be at an inflection point.

And Barry with some blog stats and bottoms (same on this fishy site) and why Cramer may not be the man.