THE OPEN

Markets open lower but are off their worst levels- the DJIA -75, NAZ -14 and SPX 8.

Strong sectors- metals, shipping, ags, trannies and gaming while real estate, semis, defense and utils lag.

NYSE- 600 net losers;

NAZ- 270 net losers;

NDX- 25 GREEN;

OEX- 15 GREEN;

VIX- flattish at 51.4;

Down volume about 2X the up;

Gold continues to move higher at $870+ in light of the crushed dollar- EURO now at 1.43 and $$$$ index trading under 80 for the first time in quite a while;

Expecting a choppy day today with bulls trying to buy dips and bears shorting rallies in light of yesterday's massive ramp- I will probably playing UWM and SSO.

And Abby Joe is bullish expecting a year end 2009 SPX target of 1150 - Bob Doll - also bullish expecting a double digit return in 2009 from where ever the SPX ends the year. VALUE - any shot they replay what they said at this time last year? Unlike the bloggers- those archives will never see the light of day.