THE OPEN

Markets have quickly flipped to red after a nice pop on the news the FED would be buying commercial paper. DJIA -38, NAZ -15 and SPX 4.

Strong sectors- ags, metals, oils, utils and drugs while banks, homies, gaming, tech and internet lag.

NYSE/NAZ flat internals;

NDX- 285 GREEN;

OEX- 50 GREEN;

VIX- down 5% at 49.5;

Up volume trailing down by about 50%;

gold +2% at $877;

Crude- $90;

Euro- 1.367;

I suspect a lot of oscillation today but little net gain or loss after yesterday's big move. Note the action in GOOG RIMM AAPL - all down about 4% and red from the open- a good clue that the rally would not sustain.

I suspect a better time to sell will be in a few days.