MORNING LOOK

Markets are lower but seem to have hit a temporary bottom as commodities and oils/metals lead. The DJIA -68, NAZ -9 and SPX -4.5.

Strongest sectors- oils, metals, ags, steel and emerging markets while homies, brokers, telecom, banks and drugs lag.

Key stocks- 11/40 higher with NYX POT V DECK MSFT MON higher and MER CME RIMM MS KLAC C GOOG lower.

NYSE- 685 net losers;

NAZ- 500 net losers;

NDX-33 WINNERS;

OEX-23 WINNERS;

IBD- 55 WINNERS;

IBD 20- 16 GREEN and now includes HES NBL APA CNQ CHK EOG NXY RIG HAL CVX and BNI - just a bit of a theme.

VIX- only up 1% and still oversold;

Down volume about 1.5X Up;

TRIN- .97;

GOLD- 883;

CRUDE- 121.65;

EURO- 1.556;

Despite the crummy financials a late afternoon rally would not be surprising - in the mean time bought some DDM and V.