The first full day of the 2011 Sundance Film Festival pounded its way through Park City, Utah and brought with it these big stories:

-- Elizabeth Olsen, the younger Olsen sister (yes, there were more of them!) took the fest by storm in a busy 24-hour period that saw both her films premiering -- 'Silent House' and 'Martha Marcy May Marlene' -- to audiences ready to declare her "this year's Jennifer Lawrence." We expect Olsen buzz to grow stronger as the fest continues.

-- With his big Sundance premiere approaching, 'Red State' director Kevin Smith has been on a marketing blitz -- sending out press releases promoting a dual protest versus members of the Westboro Baptist Church prior to his screening this Sunday night. Meanwhile, today, news once again spread regarding Smith's wanting to auction off the distribution rights to his film immediately following the screening. The consensus among press is that 'Red State' already has distribution, and this is just Kevin Smith being the excellent showman that he is.

-- It's Day One, but we already have at least one press and industry screening meltdown. Press lined up for over an hour to see 'Margin Call' (that financial crisis movie with the all-star cast of Kevin Spacey, Stanley Tucci, Jeremy Irons, Demi Moore, Zachary Quinto), but the tiny theater it was shown in made room for acquisitions people (Harvey Weinstein was the last one in) and few press (buzz wasn't good from those we spoke with), creating the sort of angry crowd murmur that's all too common in a Sundance tent.

Films People Are Loving Today: 'Project Nim,' 'Silent House,' 'Submarine,' and 'Pariah.'

Full Sundance Film Festival Coverage