TH OPEN

The rally which began last night during the Oscar's has about run its course as most of the major indexes have turned red. SPX -1, NAZ -14 as tech acts awful yet again.

Strong sectors - banks, gaming, shipping and energy while real estate, metals and defense lags.

NYSE- 340 net losers;

NAZ- 240 net losers;

NDX- 15 GREEN;

OEX- 40 GREEN;

VIX - FLAT;

TRIN- .62 with up and down volume about equal;

GOLD- down by about $8 after being down by at least $15 earlier;

GE acts awful as it trades like a bank except they are all higher today - GE minus 3% and heading for an $8 handle.

Currently long SRS DXD and looking to buy some QID.

RSI (2) levels continue to trade near 1.

Bottoming process continues per gurus.