THE WHITNEY

Markets are higher but have lost about half their opening gains as the financials are lagging yet again.

Strong sectors- gold, metals, shipping, oils, energy, real estate and utils while financials, banks, internets and homies lag.

NYSE- 1300 net winners;

NAZ- 1050 net winners;

NDX/OEX both with 75 green stocks;

VIX- down 2% at/near 57.5;

Gold- up 3.6% and over $800 while crude is up about 5% at $44+;

Markets are choppy and big spike have been sold and dips have been bought in the first 30 minutes of trade- internals are very strong while financials are weak as Whitney said this morning on CNBC that banks would be bad for another 2 to 3 years- not very bullish from one of the few analysts who got it right.

Bottom line for the day IMVHO- buy dips sell rips- as a big down day seems to be off the table- bought some SSO and looking to buy DIG on a dip.