Friday gave traders a perfect setup to buy the gap down open as the market was oversold after three down days in a row. This morning we are opening higher after last week's selloff. Look to see how stocks react in the first half hour of trading. We are slightly oversold so don't be surprised if we get some sideways action or even a slight bounce to work off the over sold condition. The ranges are expanding in many stocks so there should be plenty of opportunity across the board. Tune in to the Virtual Trading Floor to listen to the pros intraday. Scott Redler will be on CNBC this morning at 9:10 so be sure to tune in ahead of the opening bell.