THE OPEN

Another ugly open for equities as inflation numbers were again unwelcome and it looks like the FED has a real problem on its hands. The DJIA is -88, NAZ -18 and SPX -9.5.

All the sectors in the red with brokers, biotech, oils, utils and large cap growth the best of the bad while emerging markets, metals, banks, homies, retail and semis act the worst.

Key stocks- mostly lower with ICE RIMM GS BIDU NVDA VMW and MSFT green while INTC TIF MTW C DECK KLAC AMZN leading the laggards.

NYSE -1750 net losers;

NAZ -1235 net losers;

OEX- 20 GREEN;

NDX-20 GREEN;

IBD 100-26 GREEN;

WINNERS- RIMM STP GIGM TTES MEE BIDU GSOL LEAP ATVI CSCO GENZ NVDA VRSN GS DIS CCU TWX BA TXN LEH HET;

LOSERS- BDK IBM AA LTD INTC WY HD WB PFWD SNCR EJ BHP BBL SID TDG TELOZ ITEX PCAR NIHD SHLD SNDK VMED MNST;

Down volume about 4X Up volume;

VIX- up only 2% and trading 3% above the 10 day SMA;

Haven't seen the high TICKS like yesterday so maybe the sellers are taking a little break. Anyhow, continuing to watch 1,475 on the SPX and it continues to hold. Green stocks such as GS AMTD LEH CME ICE NMX maybe hinting of a little snap back before too long.