THE OPEN

Markets are trading at their highs of the morning as good news is getting bought again- and thank EBAY for the nice SKYPE news as they sell it out for $2.5B +.

Strongest sectors- gaming, energy, semis, trannies and emerging markets while junk, bonds, real estate and brokers lag.

NYSE- 1400 net green;

NAZ- 1200 net green;

SPX - 420 GREEN;

NDX- 97 GREEN;

VIX- flat at 26.

TRIN- 1.09 with up volume about 3x the down - note FNM FRE C AIG all down or flat- SKEWING the TRIN- in light of all their volume.

EURO- higher.

DOLLAR flat.

GOLD +4.

SILVER flat.

CRUDE- +1.25.

NGAS +.02.

RSI 2 levels near 60 on major indexes and markets gave us all a little gift yesterday as the level shrank to 10 on the RSI - usually a good level to buy especially in a strong bull market and that appears to be where we are right now. The Trend is the friend and it is up for now.