HARD TO BUY

Markets open lower again and seem to be heading straight to zero. The DJIA is -85, NAZ -12 and SPX -7.5 as many a bear declare victory.

Strong sectors include oils, semis and tech while brokers, reits, metals, airlines, homies, retail and fiancials lag.

Big winners include NVDA SNDK GRMN XOM BYM CVX FDX SNP DRYS WNR HOC DWSN TXT VLO BHP BAM and KLAC.

Big losers- SBUX AMLN NTAP ESRX LEH MER MS AXP GS CAT GE SYNL BWLD BTJ DRC and FCSX.

Market internals are weak with about 2,100 net losers on the NYSE and NAZ while the OEX is 3/1 losers to winner and the NDX acting best with almost as many winners as losers.

Volatility indexes up another 5% and now trading about 6% above their respective 10 day SMA's.

The 2 day RSI numbers on the major indexes at/near 10 with the MIDs at 8 so I am dipping in my first toe to this dip now as I type.

I am also watching the brokers closely because that is the area of concern with their sub prime paper. As I type they are getting hammered but also improving.

Also giving me thought that a rally may be near is the action in tech as my whole tech screen is green while the major indexes are crushed.