THE OPEN

Markets open weak again on the heels of the WB write offs and rumors on Barclays. The DJIA is down 190, NAZ -57 and SPX -22.

Brokers, financials, airlines, banks, China, tech and retail the weakest sectors with drugs and yikes semis the best performers.

Only 3 of my key stocks are higher, MTW MO and KLAC while UA DECK MER VMW RIMM TIF BIDU and AMZN act the worst.

Market internals, about 3,800 net losers on the NYSE and NAZ.

NDX- 8 WINNERS;

OEX 10 WINNERS;

IBD 100- 10 WINNERS;

IBD 20-2 WINNERS;

Biggest winners- AMAT XMSR CEPH EBAY GRMN MRK CCU AXP TYC MO TO KO PG PCLN TKC BHP TISI VIVO CF;

Biggest losers- EJ WX FLIR GSOL SDA PDA CMED WB DELL MER MMM LEH ORCL IBM GM QCOM LBTYA LINTA RIMM TLAB APOL SPLS;

VIX higher by 7% near 28, the highest level in mid August, the prior market lows, 31+.

The SPX low of yesterday was at/near the 1,450 level and so far that level is holding. Note it is also the 61.8 FIB retracement level.

Watch the SMH, as many times they are the first to go green before a market turn. They are at the flat line as I type but something to keep an eye on.

RSI (2) on major indexes now in the low single digit range with the NDX at 4 and SPX at 7.

Big cap tech:

AAPL -1.4%

AMZN -3.5%

BIDU -4%

GOOG -3.5% and down about 75 points from its all time high on Wednesday at $747.

RIMM -4.4%