THE OPEN

Markets are trading lower this morning after some initial buying with weakness in internets, gaming and financials while strength is found in metals, oils, ags, steel and homies.

NYSE- 450 net losers;

NAZ- 300 net losers;

OEX -20 GREEN;

NDX-25 GREEN;

IBD- 75 GREEN;

WINNERS- SNDK BIDU STLD FWLT MSFT GOOG AAPL S HAL SLB BHI MO UNH COP CLR DNR KWK BRY ACI EOP APA;

LOSERS- CYBS SOHU GFA CHL FLS KSU BAP PSEM YHOO HOLX UAUA DISCA ADSK APOL LRCX GM TYC HD VZ ROK CSCO HIG RF;

GOLD -868;

CRUDE-119.55;

VIX- up 5% at 19.1;

Down volume almost 3X Up;

Markets are overbought and moving lower while oils and metals are a bit over sold and they are moving higher- An afternoon up move in equities would not be surprising if the sell off doesn't get too bad.