MORNING TRADE
Markets are trading lower but off their worst levels as most folks made the decision to buy the gap down.
Strong sectors include utils, insurance, defense, drugs and airlines while China, emerging markets, financials, biotechs and retail act the worst.
Key stocks mainly lower (7 up 33 down) led down by C MTW VMW LVS MS POT WYNN and GS while NVDA GOOG RIMM BIDU BAM ICE and COST are higher.
NYSE internals - 1,900 net red;
NAZ internals - 1,230 net red;
NDX -25 GREEN;
OEX -25 GREEN;
IBD 100- 15 GREEN;
Biggest WINNERS- IACI SIRI NVDA XMSR GOOG CSCO AKAM ETR AIG CSCO TWX AVP PG EXC GD AEP CBS MRK CYNO RIMM ABB LIFC VSEC and BUCY;
Biggest LOSERS- CHL EXM LFC FTK EXLS PCU DSX OII DRYS EK C EMC MS GS WB HD BDK BHI AA RYAAY SNDK INFY CTSH MICC LOGI AMLN GRMN WYNN ERTS BBBY;
VIX up 7% and near 25 and about 16% above the 10 day SMA;
Down volume about 4X Up volume;
Two day RSI for major indexes:
SPX 14
OEX 12
DJIA 17
RUT 14
NDX 34
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