OPENING THOUGHTS

The DJIA 12,000 is now in the rear view mirror and probably lots of unhappy folks who bought the greed at higher prices.

The charts sticking out on my screen are the adv/dec lines for both the NAZ and the NYSE. Both are ugly at more than 1,000 more losers than winners and it seems a bit early in the day for them to be so negative. My guess, before too long today the buyers will show and give some kind of bounce to the markets.

Sectors higher include metals, oils and drugs while the worst groups include retail, airlines, trannies, biotechs, brokers and financials.

The SOX along with GOOG, KLAC EBAY and YHOO are trading flat to slightly green so maybe another little hint of a snap back rally before the end of the day.