THE OPEN

Markets open higher but not sure that a lot of traders trust the upward thrust- its led by the banks and financials which have been thrashed the last few trading days.

Strongest sectors include financials, shipping, brokers, gaming and oils while homies, bonds and drugs lag.

NYSE- 1350 net winners;

NAZ- 900 net winners;

NDX- 80 GREEN;

OEX- 80 GREEN;

VIX- down a quick 10% at 50.75;

Up volume 4X the down;

TRIN .75;

I will call this a buy the dip day for now- but if 8k on the DJIA or 815 on the SPX gets taken out - I will be done for the day- DIG another way to play as oils looks strong.

Geithner about to be grilled - remember he has a tough act to follow in Paulson- everyone wants him confirmed but they also want some blood for the tax problems.