THE OPEN

Markets are higher with the NAZ/NDX/RUT out performing the SPX/DJIA as financials start to under perform again.

Strongest sectors- retail, gaming, reits, tech and semis while energy, metals, banks and bonds lag.

NYSE- 1225 net green;

NAZ- 1130 net green;

OEX- 75 GREEN;

NDX- 85 GREEN;

VIX- down 1% at 40;

TRIN- .79 with up volume about 4x the down;

Gold and crude down a bit;

A little leery of a rally with out the fins and MS GS both fell into the red after opening green- lots of folks seem to be focused on the up tick rule and I suspect it will be chatter for a few days but after than meaningless in light of penny spreads and 3x etf's that can be bought or shorted on either tick.

No trades yet and watching for an edge.