THE OPEN

Markets open higher but are off their best levels with notable weakness in GE -5%, despite the Immelt buy yesterday.

Strong sectors- energy, banks, gaming, drugs and tech while gold, metals, homies and junk lags.

NYSE- 530 net green;

NAZ- 650 net green;

NDX- 85 GREEN;

OEX- 80 GREEN;

VIX- down 4% at/near 50.4;

TRIN- .52- with up volume about 3x the down;

Gold down $11 at $916;

Crude up 1.7% at $40.75;

Looks to be a choppy day and will leave it at that despite the nice internals on the NDX/OEX- all eyes on GE as it sinks another 6% and that dividend not that helpful today- GS also lower - so long side probably with energy today.

Oh and Dougie did a call a bottom yesterday - not a tradeable bottom but a bottom-