BREAKING NEWS

Shockingly the markets have opened red on the heels of the lousy jobs numbers which showed an increase of about 25k jobs once one eliminates the birth/death adjustment for new businesses. So maybe the soft/hard landing debate is still up for grabs.

Anyhow, my bet is that this dip gets bought before long as many under invested bulls who have been screaming for a pullback finally have one.

Market internals are very bearish with 1,500 more losers than winners on the NYSE and 1,100 more losers than winners on the NAZ.

My screens are all red except for VIX VXO MO KLAC ORCL GOOG CSCO YHOO and MMM. Sectors acting the worst include metals, oils, retail, semis, trannies, brokers and small caps.

VSL, a favored Indian stock of the good folks at GTS, is ripping higher on news it will probably be unloading a chunk of highly valued real estate.