OPENING VIEW

Sure enough the markets have opened lower, much lower with market internals about as bad as they get. The DJIA -52, NAZ-27 and SPX-8. I guess all the sellers decided to pull the trigger at the same time.

Market internals are red 1,400 on the NYSE and red 1,450 on the NAZ.

Sectors/Stocks in the green include drugs, JNJ, MER, MRK, PFE and some biotechs. Leading to the downside include semis, metals, brokers, techs, oils, cyclicals and small caps.

Big losers on the DJIA include INTC HD CAT MCD BA DD C and GM. The only winners are JNJ MRK PFE DIS and IBM.

So far no sign of the "buy the dip" crowd but the VIX/VXO tandem is rallying to the tune of 7% and 9%, so a few days of selling like this and a real buy signal may appear.

And to all NY Jets fans, how about that guy last night. How would he have looked in green for 10 or 15 years?