THE OPEN

Markets are higher on the heels of the expected deal done on the TARP plan- IMVHO its going to be very tough for politicians to vote against it.

Strong sectors include emerging markets, retail, utils, semis, biotech and telecom while shipping and ags lag.

NYSE- 1320 net winners;

NAZ- 960 net winners;

NDX- 80 WINNERS;

OEX- 90 WINNERS;

VIX- down a hair at 35;

Up volume 3X the down;

EURO 1.472;

GOLD- $895;

CRUDE- $895;

Thoughts- not really excited to buy here as I think the short side gets more interesting a hair higher- Financials are higher but are hardly ripping on the TARP news.

Levels to watch are 1185 on the SPX- as support and 1210 as near term resistance.

Some Links:

Roubini's plan;

GE spits the bit;

BESPOKE on the SHORT LIST;

Potential Free World leader with Katie Couric;