THE OPEN

Markets open lower with the DJIA down 80, NAZ -17 and SPX -7 as I type. Small caps doing worst and small cap growth the worst of all;

New home sales the culprit as they stink again.

Strongest sectors- airlines, utils, biotech, drugs, staples and industrials - lagging- ags, homies, chinga, telecom, emerging markets, internets, brokers and banks.

Key stocks- 10 out of 40 green led by CME CELG BG NYX GE WYNN GS IBB BAC CAT lower are MCD DECK BIDU ICE MA NVDA MGM AMZN GOOG LVS MER MS;

NYSE- 840 net losers;

NAZ- 700 net losers;

NDX- 40 WINNERS;

OEX-33 WINNERS;

Up volume- 72K

Down volume- 148K

TRIN- 1.14

Internals not quite as bad as the indexes and I suspect we may see a turn around higher before the day is over. No guarantee but just the way I am going to play.