THE OPEN

Markets off to the races on the heels of the ugly GDP news - with the SPX +12 NAZ +25 and DJIA +106+.

Strongest sectors - banks, shipping, fins, reits, energy and homies while brokers, drugs, retail and ags lag.

NYSE- 1700 net green;

NAZ- 1000 net green;

NDX/OEX- almost 85% green;

WINNERS- LIFE LOGI ATVI MICC CMCSA DISH RYAAY LBTYA CTSH INFY TWX BHI C BAC GD COF DIS HON;

LOSERS- BMY UNH GILD AMZN NIKE CVS ABT ESRX VRTX RIMM WCRX TEVA NVDA PPDI ORLY;

TRIN - .72 with 8/1 up to down volume on NYSE;

Looking to buy pullback as I have starter positions in IYR and SSO- suspecting we move back to test the SPX 875 level - and don't want to be left with out some profits on the move.