OPENING LOOK

Futures were sold at the open and most major indexes have flipped to red as we all must have forgotten that it is Friday. The DJIA is -30, NAZ -17 and SPX -4.5. The RUT continues to under perform as is trading down more than 1.2%.

Strongest sectors- oils, metals, large growth, tech, utils and drugs;

Weakest sectors- China, airlines, real estate, trannies, homies, brokers and financials;

Key stocks- 50/50- WINNERS- GRMN WYNN MTW MCD LVS XOM KO PG; LOSERS- RIMM BIDU MS AAPL C MER ISRG CAT;

NYSE -1,000 net losers;

NAZ- 960 net losers;

NDX- 35 WINNERS;

OEX-40 WINNERS;

IBD 100- 45 WINNERS;

BIG WINNERS- STP SDA PDA MBT HDB ITU AVP HPQ BAX CVX MCD NXY CSCO BHI T XOM GRMN EXPE INTU PAYX WYNN LVLT CTSH JAVA;

BIG LOSERS- SBUX RIMM NTAP ATVI UAUA AMLN FAST XMSR FDX EK WB WFC UPS TGT MS AA ININ KOP GME BIDU GSOL SNHY CHL GLNG HMSY;

VIX- surprisingly down 1% and about 5% above the 10 day SMA;

Market is below SPX 1,450 and what appears to be solid support. If we close below we may have quite a selloff on Monday morning.

Also, the action in big cap tech is again quite disconcerting as RIMM has solidly broken par, GOOG is quickly heading to a 5 handle and under its 50 day SMA, AAPL sinking to the 150's and BIDU under 300.

BTW, look at these green stocks- KMB KO MCD MO PEP PG LVS WYNN SGP WLP JNJ ABT and the oils and metals- HMMMMMM.