OPENING VOLATILITY

The volatility continues as as the CFC deal becomes final and many of those folks who bought yesterday, well not so happy. The DJIA -150, NAZ -25 and SPX -13- RUT and MID's right in line with the large cap indexes.

Strongest sectors- metals and MOO (ags) with homies, retail, emerging markets, semis and real estate the laggards.

Key stocks- generally lower with CELG BG MER POT CAT GS IBB higher and TIF MCD MA GRMN UA RIMM WYNN ICE INTC leading lower;

NYSE- 1400 net losers;

NAZ- 1100 net losers;

NDX- 15 WINNERS;

OEX-10 WINNERS;

IBD 100-20 WINNERS;

WINNERS- DSX CF HRBN ABAX RRC HOLX GME WFMI CELG CEPH GENZ HOLX SNDK GILD BHI DELL MER CAT UPS BAX COP AMGN;

LOSERS- TIF MCD AXP TGT COF GM BK ROK S F JNPR CTSH LOGI INFY SHLD BRCM GRMN HANS MA CCH EDU ATW CHL FSTR BHP GSOL CMG;

VIX- hardly moving higher on the big move lower - ah the weekend;

TRIN- 1.21 and Down Volume 4x Up Volume;

Some bright spots this morning in the gloom and doom- check the brokers- GS MER BSC ETFC LEH MS all trading near the unchanged line despite the big drop on the major indexes. Could signal a later turnaround.

So here we go again as the volatility picks up and recent solid performers like MCD INTC VMW etc get hit hard and my suspicion continues to be that the recent lows will hold and folks buying near these levels will be well rewarded in the intermediate term.