THE OPEN

Markets open lower on the heels of higher crude, higher metals, lower dollar and maybe overbought conditions of a range bound market.

The DJIA is -111, NAZ -20 and SPX -12. The RUT and Small Cap Value the worst performers yet again as both are down over 1%.

Strongest sectors are metals, biotechs, oils and gaming while airlines, financials, trannies, insurance and brokers lag.

Key stocks -10 out of 40 higher led by RIMM POT ISRG CME GOOG MA BAM DECK and lower by GRMN VMW MS MTW UA MER WYNN BG BAC GS and CELG.

Market internals pretty ugly with 3,000 net loser on the NYSE/NAZ.

OEX -9 GREEN;

NDX -15 GREEN;

IBD 100-20 GREEN;

WINNERS- WFR SNDA RIMM EJ SLT POT ARD SWN CMG CF VMED EXPE CTSH FLEX DISH JAVA ALL TWX WMB CL GOOG IBM NXY;

LOSERS- COF GM MS ROK WY AIG RF LEH GRMN EXM DSX STP EXLS VMW FTK TISI LFC PKX EXPD RYAAY YHOO UAUA PETM NTAP;

VIX trading up 8% and about 8% above the 10 day SMA;

How now SPX, well tough to tell but support she be found at 1,500 and then 1,490; on the upside probably capped again by yesterdays highs near 1,520. It is still an inside day on the SPX and a break on either side of the bar may lead to quicker buying or selling.

For what its worth, Cramer out buying everything, and more work on his Mad Money calls, oil near $98 and everyone talking of $100 maybe today, some shocking news from GM that they lost money, just wonder how much they are sitting with in bad loans.

Dreman thinks some money can be made in the financials. And one good question on metals, if gold is over $830, why is silver still only near $15.