THE OPEN

Equity markets are trading flat as of the 10.AM economic number release- ISM improving but not helping equities.





Strongest sectors- gaming, metals, fins, emerging markets and oil service while homies, drugs, tech, semis and small caps lag.





NYSE- 350 net green;


NAZ- flat internals;


NDX- 37 GREEN;


SPX- 255 GREEN;





VIX- flat at 28.7 and more than 10% above the SMA 10.





TRIN- .47- with up volume 3x the down- FRE FNM AIG C all big gainers with big volume skewing as usual.





NQ has turned tail and is leading lower while the SPX is the strongest of the big indexes - and Doug Kass expanding his short book as I type- FWIW- no other great insight and keeping mum for a bit as Tuesday's post was pretty ugly.



Bill with the over bought VIX;

Looks like another Obama pick coming shortly.

MORN with some early picking.