THE OPEN

Markets start the day lower with the RUT and Small Cap Value being the worst of the indexes.

Strongest sectors include retail, internets, trannies and big cap biotech while utilities, semis, financials, banks, metals and brokers lag.

Market internals are red 1100 on the NYSE and red 820 on the NAZ.

Volatility indexes- up 8% on the VIX and the roller coaster ride continues.

OEX: 20 UP 80 DOWN;

WINNERS- MO CMCSA HD ATI AA BAX HNZ ROK DOW FDX;

LOSERS- AEP LEH ETR EXC SO CBS GM JPM TXN CCU RF NSM;

NDX- 20 UP 80 DOWN;

WINNERS- DISCA WFMI JOYG NVDA BIIB CTSH EXPE JNPR AMZN;

LOSERS- LRCX MRVL DISH SNDK AKAM XMSR ERIC TLAB GRMN LINTA INTU ALTR;

IBD 100- 34 UP 66 DOWN;

WINNERS- ACH SNDA CMED DRYS BIDU PCR GES PRFT NVDA VDSI AIRM CPLA;

LOSERS- FLIR EXM AFSI VSEA GMCR ESI MORN GPOR ATN EDU DWSN;

An ugly start for the banks, brokers, exchanges and asset managers which doesn't give me great confidence of a big upside day. AS I scroll down the screens, seems like retail has some unusual strength with CROX CWTR GES HD M TIF WFMI all green.

On another note- look which value guy is buying WYNN and GOOG. Not sure where the great value is with WYNN but who am I to argue with that guy.