THE OPEN

Markets are flying yet again and Cramer has officially declared the lows are in and assets on banks balance sheets are no longer toxic - just bargains.

SPX +22.6 and NAZ +43.6.

Strong sectors- gaming, shipping, trannies and energy while metals, utils and drugs lag.

NYSE- 2400 net green;

NAZ- 1700 net green;

NDX /OEX- about 95% green;

VIX- down 3% at 41;

TRIN- .93 with up volume about 12x the down;

Markets are at major resistance area of 835 on SPX and 830 on ES- I expect they eventually break through - as the more times its attacked the greater the likelihood of success.

Actually- when that happens I will be looking to dump some longs- SSO (22 area) - etc- in the meantime watching for the blip up.