THE PARTY

The day is shaping up as a good day for the longs as the DJIA is +128, NAZ +40 and SPX +14.

Strong sectors include steel, homies, banks, retail, gaming and semis while metals, oils, utils and shipping lag.

NYSE- 1300 net winners;

NAZ- 1180 net winners;

NDX- 90 GREEN;

OEX- 85 GREEN;

VIX- down 4% at near 23.25;

Up volume 2X the down;

Crude crushed over $3 at near the 121 level;

Gold also wacked by $10 as the dollar is very strong;

The 1250 level on the SPX looks like the first area of resistance while 1257 is next - bought some QLD and UWM but a little late to the party- although I do think this party will last today.