MORNING MARKETS

Markets opened way down but are now way off their lows -25 on the DJIA -18 on the NAZ and -3 on the SPX.

Strongest sectors- banks, real estate, reits, trannies, homies, retail, airlines and brokers while emerging markets, biotech, tech, oils, telecom and ags act the worst.

Key stocks- mixed with BAC C INTC GRMN MER NVDA MS GS TIF NYX higher while AAPL RIMM DECK GOOG AMZN KLAC KO MTW VMW lead lower-

NYSE- 525 net red;

NAZ- 600 net red;

NDX- 40 GREEN;

OEX-35 GREEN;

IBD 100- 15 GREEN;

Winners- SXE MOS LKQX OMCL BRK.A SONO AUY RF NSC WFC WB BAC JPM HD USB BNI C UTX LINTA EXPD BBBY SBUX NVDA SPLS;

Losers- AAPL PETM RIMM CTXS VRTX FWLT LOGI SNDK ERTS ATI S DELL XRX GOOG HPQ KO CSC;

VIX- near the flat line;

Up and Down volume about equal;

Are we out of the woods, I doubt it- remember in 2002- we hit bottom on October 10 went straight up only to retest in March of 2003. Not sure if it will happen again that way but I bet there are plenty of folks who want to get out higher.

Finally, don't ever listen to the guy pictured, he is always bullish and always looking for why the markets are going to rally from here.