THE OPEN

Markets are off and running and after being up at the 825 the SPX has again sold down to the 815 area and we will see if we get an instant replay from yesterday.

Strong sectors- trannies, retail, energy, semis and shipping while real estate, telecom, banks and utils lag.

NYSE- 990 net green;

NAZ- 1,000 net green;

NDX- 85 GREEN;

OEX -60 GREEN;

VIX- stagnant at 41.5;

TRIN- 1.66 With up volume a hair better than down;

Gold up a bit and crude higher by 2%;

Everyone seems to know the areas to watch- higher than 825 and lower than 810 on the SPX - in between is just churn- and we will see - my guess is this fades.