MORNING TAKE

Markets have opened flattish with the small caps and the SPX out performing the NAZ/NDX.

Strongest sectors- gaming, metals, oil service, trannies and ags while retail, banks, brokers, semis and internets lag.

NYSE- 200 net green;

NAZ - 100 net red;

NDX- 32 GREEN;

SPX- 215 GREEN;

VIX- flat at 23.5.

TRIN- 1.03 up and down volume about even.

Gold up about $12 at 1010.

Dollar - down a hair at 77 and EURO flat at 1.458.

Not a great deal going on this morning except for the move in gold - and under performance of the NQ futs which usually lead - but if the market doesn't drop soon it will probably get bought again.

Links:

Dr. Brett on aligning your trades with big traders.

Remembering the pre January 20 days.

Whitney on home prices- she kind of missed the rally.

BESPOKE on gold.