THE CRUSH

Markets are way down on the heels of the ugly ISM services index. Not sure why folks should be surprised that the economy is slowing but it is what it is. DJIA -200, NAZ -30 and SPX -23 as I type.

Strong sectors- gaming and airlines- laggards- emerging markets, telecom, insurance brokers, metals, banks and oils.

Key stocks- 12/40 GREEN- leaders- LVS WYNN MTW UA ISRG GOOG VMW POT AAPL CME TIF BG- laggards- NYX GRMN C MS MER GS NVDA INTC MGM BIDU;

NYSE- 1750 net losers;

NAZ-1,200 net losers;

OEX-6 WINNERS;

NDX-10 WINNERS;

IBD-100 -12 WINNERS;

VIX-+6.5% and still not near over bought levels;

TRIN-1.52

Up Volume about 1/8 of Down Volume;

SPX- support still near 1,340 and after the big ramp off the lows we have had a breakdown to those levels is probably baked in the cake.

No reason to be a hero yet and I will probably either short some pullups for a daytrade or figure out another way to spend the day.