MORNING TRADE

Markets seem to be bouncing off the morning gap lower and the action for now is different from the lower goes lower trade that we have seen of late. The DJIA -23 after being down 100, SPX -5 and the NAZ -14.

Strong sectors include airlines, retail, brokers, trannies and metals while oil, ags, semis and banks lag.

NYSE- 550 net losers;

NAZ- 600 net losers;

NDX-30 WINNERS;

OEX-40 WINNERS;

IBD 100- 25 WINNERS;

Key stocks- generally lower with GRMN ICE TIF IBB PG RIMM CELG NYX GS MCD higher while MTW POT ISRG NVDA KLAC BIDU MA VMW GOOG lower;

Winners- UAUA LOGI YHOO RYAAY SHLD UPS WMT TGT BNI VZ BOOM CMED FCSX GRMN GMCR GIGM;

Losers- GME STP DSX GSOL ATW AGU CNH COF XRX SLB AXP F BAX HAL AAPL GOOG EXPE TEVA SNDK INFY ESRX NVDA JNPR;

Among the biggest losers this morning are OIH and MOO (getting plowed) the agriculture ETF which includes MOS POT MON BG CNH and DE -the Oil service ETF- OIH is now trading at/near the 50 SMA so it may be worth a shot here;

Technically, the lows from August 16 continue to hold and the market looks like it wants to go higher as it is way oversold and at significant areas of support.