OPENING BELL

Markets open lower with the big caps again showing the way down. The DJIA is lower by 30, NAZ -5 and SPX -3.

Lots of chatter about a correction as most CNBC guests talk of an upcoming 5/10% selloff enroute. Who knows, but my discipline requires that I sell down some longs (IWM); and yowza, check the 10 year Bond rate down to 4.69%, if that continues lower, the alligators will be back buying stocks and selling bonds.

Strongest sectors include semis, silver, metals, oils, utilities and retail. Most everything else is weak with software, biotechs, airlines, homies, brokers, reits and trannies acting worst.

Market internals also weak with a net 450 red on NYSE and 560 net red on NAZ.

Key stocks mainly lower with AAPL ICE KLAC BIDU solidly green. GS GOOG CME MER MS all lower but hardly in free fall.

Biggest gainers include KLAC GRMN ALTR BRCM LOW HRB EXC CHK and NVLS.

Biggest losers include CC LLL PDCO MTG CFC ORCL RSH BEAS INFY WFMI NIHD and VMED.

The SPX is 175/325; NDX 45 /55 and the Biggest of the big OEX at 24/76 up to down.

Volatility indexes slightly higher but hardly showing fear with the VIX/VXO combo at 10.45/10.54.