THE OPEN

Markets open/trade way lower on the heels of crummy news from CFC and more worry about how deals will get done as financiers tighten lending practices.

The DJIA is --.62%, NAZ -.86%, SPX -.75%, RUT -1.7% and MIDs -1.2%.

Strongest sectors are metals, airlines and biotechs while homies, brokers, semis, oils and small caps lag.

Winning stocks include AMLN TLAB CHKP UAUA BIIB VZ MRK UPS PG AXE GME RRST ACH BIDU FTK GOOG CROX SGP AMGN and DNA.

Losers across the board led by MICC EDU CRDN ATHR HDNG DRYS AAPL GS LEH LM CME ICE JPM MA AKAM KLAC DVN HOC VLO XTO RIG SLB and CFC.

Market internals horrendous at 2,100 more losers than winners on the NYSE and 1,600 net losers on the NAZ.

The IBD 100 showing 15 winners and 85 losers as is the OEX while the NDX is better at 25 up and 75 down.

Volatility indexes much higher with VIX/VXO near the 18 level and over the 110% of the 10 day SMA "buy signal."