THE OPEN

Markets have turned lower as rates are turning higher with the 10 year up to 5.182%.

Strong sectors include software, oil, homies, tech, metals and airlines while reits, biotech, utilities and trannies lag.

Key stock winners include AAPL GOOG C MA LEH MS and RIMM while BSC GS CME ICE NMX NYX JPM SLG TIF CROX PVH MRK SGP GILD CELG SYK INFY CTSH are all red.

Biggest winners include BEAS SYMC ERIC EK AA BHI TWIN SYNL PCR MTOX VIP WNR DRYS and VIP.

Biggest losers include TLVT CNS ATHR ACH HAL AES F AEP CDNS SEPR NMST AMLN GENZ JNPR EXPD and VRTX.

Market internals have flipped bearish as the NYSE shows 400 more losers than winner while the NAZ shows more than 600 net red.

The OEX is about 43 up and 57 down while the NDX is 2 lower for each issue higher.

Volatility indexes moving higher and up between 4 and 6%;

Y mentioned favorably in Barrons is up about 6% while BHP EWA FCX LUK HON UTX XLE APC CNQ DVN HP PXD RIG MA LM TROW GE and LCAP all hit new 20 day highs.

New 20 day lows for PG and KMB.