OPENING LOOK

Looks like Iran is back on the radar as the market opens lower with losing stocks beating out winners by about 1,800 issues.

The biggest major market index loser is the NAZ 100 with the QQQQ trading down almost 1%.
Sector winners are the usual suspects, oil and gold with GOOG, GS, retailers, airlines, techs, internets and trannies leading to the downside.

I assume the short term trading tell will be the dippers and how soon before they come in and buy and stabilize the market; on the flip side, how long the folks with the big profits want to sit and let those profits fizzle away.

The fear/complacency indexes VIX/VXO/VXN are up big this morning so at least the option buyers are happy.

Watch the internals, SMH, GS, the financials and IWM for the hint of which the direction will be.