OPENING RIP/DIP

Markets have again given back much of the opening gap up and the highs from yesterday (20 EMA) are again rejected as stiff resistance.

Market internals remain strong through the dip lower but the action in the brokers/banks continues to be just awful.

So with all the banks/brokers trading lower, I refuse to get long for a trade as lower prices seem to be the most likely path. And fighting the "sell the gap open higher" trade has worked about every time since the beginning of the year.

Key stocks mixed with RIMM MTW SMH DECK AAPL KLAC higher while WYNN BG GRMN GS LVS MS TIF MER NYX C lower;

GS now trading at about 8x and 1.7x Book Value. Not sure why it gets crushed every day but it does and the longer term profit potential from these levels looks pretty pretty good.