THE OPEN

Markets open mixed and quickly faded lower on the heels of the ISM number and on top of the poor Chicago PMI yesterday some significant downside may finally be near.

Market internals are bearish with 1,800 more losers than winners.

The only strong sectors are retail, gaming airlines and some metals.

Weakest sectors include brokers, software, internets, tech, semis and biotechs.

The oils are weak but seem to be holding while the major indexes get crushed.

On a final note, now that Kirk has sold his GM stake maybe, just maybe we won't here bubblevision discuss GM all day. What a waste between GM F IMCL and MSFT they waste hours when they could be discussing ideas that make sense such as oil/metal companies to buy or even which companies may have outsized growth strong earnings and good balance sheets. Maybe a money making idea for once but that never seems on the agenda of CNBC.