THE OPEN

Markets are trading mixed near the open but they seem to be moving inversely with oil- DJIA -12, NAZ +4 and SPX -3.

Strong sectors include homies, banks, shipping, financials, trannies and real estate while energy, utils, telecom, metals and semis lag.

NYSE/NAZ flat inernals;

NDX- 63 GREEN;

OEX- 40 GREEN;

DJIA -12 GREEN led by GM BAC JPM C HD AIG BA MCD- laggards- AA T VZ XOM DD MSFT CVX and WMT;

VIX- unchanged near 21.6;

Up and down volume about equal;

Markets feel like they want to move higher led by financials with GS getting out of its recent funk and all the exchanged moving higher- still looking for an eventual retrace back to the 1255 SPX area but probably not today. Also note the recent out performance of the NAZ/TECH and RUT.