The Open

Markets are trading higher but well off their best and opening levels which were up on the heels of good earnings news from JNJ.

Strong sectors- metals, steels, utils, gold, reits, ags and trannies while gaming, airlines, biotech, semis and homies lag.

Key stocks- mixed with BIDU MSFT XOM GOOG MCD CME ISRG RIMM higher and MTW KLAC DECK LVS AMZN MGM and UA lower.

NYSE- 340 net green;

NAZ- FLAT;

NDX- 40 GREEN;

OEX-55 GREEN;

IBD- 60 GREEN;

VIX- down about 1%;

GOLD- $931;

CRUDE- $113.35;

EURO- 1.58;

10 YEAR NOTE- 3.547%;

Up volume and Down volume about equal;

Markets have gone straight down from the higher open and the financials have turned red after a strong open. Support on the SPX probably near yesterday's lows at/near 1325.

My plan- buying oils/commodities on pullbacks (DBA DBC GLD DGP OIH) and the major indexes near the 1325 support if and when.