The Open

Markets are way down and oil way up on the heels of the oil inventory numbers- big draws in distillates and a small build in crude- oil trading at/near $104.7 up 3.25% on the day.

DJIA -125, NAZ -29 and SPX -13.

Strongest sectors- oils, metals, utils, ags and biotech while airlines, financials, semis and homies lag.

Key stocks mainly lower- GREEN- BIDU AAPL XOM GB TIF GOOG MTW RIMM- RED- C MER NVDA LVS BAC MS KLAC MS;

NYSE- 1050 net losers;

NAZ- 1050 net losers;

NDX- 10 GREEN;

OEX-25 GREEN;

IBD- 40 GREEN;

VIX- higher by 3% and at/near the SMA 10;

Down volume 3X Up volume;

Gold -near $950;

EURO- 1.574;

The Macau bet;

Brain Control;

Big Money;

Fast Money;

As the poor numbers continue to appear such as oil inventory/euro etc - the conviction of the bulls seems to get a little weaker- Question is where they close and if they can't keep it above the 50 SMA the bulls may be in a little trouble.