LOWER OPEN

Markets open lower the small cap complex taking the brunt of the selling. DJIA -22, NAZ-10 and SPX-3.

The small cap IWM is down about double the large cap guys so if you think stocks are heading lower, go to cash not large caps.

Sector winners are kind of surprising in light of the downdraft with brokers (GS), homies on the C upgrade, and retail trading in the green. Most all other sectors are lower with metals, internets, semis, tech, trannies and drugs acting worst.

Market internals are bearish with about 1,600 more losers than winners and fairly evenly divided between NYSE and NAZ.

Oil and oil service are trading flat to pink with the oil patch numbers coming out at 10:30- I suspect higher oil stock prices regardless of the inventory numbers.

Some interesting price targets by C on the homie call as they call for TOL at $42, PHM at $45, HOV at $63 and CTX at $68. Nice prices if you can get them there.