THE OPEN

Markets open lower on the heels of higher crude and an over bought market. The DJIA is -40, NAZ -1 and SPX -3.

Strong sectors incude oil service, metals, biotech, china and semis while real estate, reits, financials and airlines lag.

Key stocks - 16 up 24 down - WINNERS- CROX DECK INTC XOM IBB ISRG TIF; LOSERS- C CAT BIDU MS RIMM ICE BAM MER;

NYSE internals 800 net red;

NAZ internals 640 net red;

OEX -30 WINNERS;

NDX 25 WINNERS;

WINNERS -BIIB GENZ NTAP BRCM INTC SLB EK BHI CVX XOM HAL EDU SNP CMED SLT TBSI CLB;

LOSERS- NILE TEX PDA WMS TDG HMSY WHQ MDT ATI GM COF C F CAT AXP LVLT ROST UAUA XRAY ESRX SHLD CTSH INTU;

VIX/VXO higher by about 3% and now trading a few percentage points above the respective 10 day SMA's.

Other stuff:

Two day RSI's on major indexes:

DJIA 39

SPX 43

RUT 32

MID 24

NDX 70

COMPQ 59

Banks and brokers all lower with AIB C NDAQ BSC BEN IAI among the worst performers;

Biotechs good with GENZ BIIB both with 2 day RSI's near 100;

Metals and oils the best performers led by OIH APA APC DO HP NFX SLB SU XOM XTO GBN GG GSS PAAS SSRI;