OPENING UP

Equities indexes open higher but are well off the best over night levels of the futures- SPX +5, NAZ +5 and the DJIA +25.

Strongest sectors- metals, gaming, energy and reits while biotech, airlines, junk and drugs lag.

NYSE- 1100 net winners;

NAZ- 350 net winners;

NDX- 61 GREEN;

SPX- 333 GREEN;

VIX- down 1.5% at 23.65 and about 1% under the SMA 10.

GOLD- up about 12 at $1017 while the dollar is down almose 1% but up a bit from the open of equities at 9.30.

RSI 2 levels - extended as follows:

SPX 78

DJIA 70

NAZ 95

NDX 97

RUT 80

I am long the QQQQ and looking for a rally today as some of the over bought anxiety has been cut during the past few days- also looking to add DIG and EWC-

Irwin Kellner and his recession take;

The latest on the ease in CDS;

Lenny not on the list quite yet;

Jim Grant v Rosie;