MORNING WATCH

A wacky day so far with the markets opening much lower and climbing their way back to the flat line and beyond into green territory. Bad news finally getting bought-

NYSE- 700 net losers;

NAZ- 640 net losers;

NDX -45 GREEN;

OEX- 50 GREEN;

IBD- 55 GREEN;

VIX- flat;

GOLD +17 at $945;

CRUDE- +$2.15 at $142.2;

Markets seem to have hit a temporary bottom as the SPX went near the 1265 level and about 8% below the SMA 50- pretty pretty stretched.