MORNING TRADES

Markets not so good this morning on the heels of the GS downgrade of the brokers/banks- the final horseman RIMM getting chopped and probably some regret by folks who thought the FED was going to raise rates some time soon.

The DJIA -140, NAZ -44 and the SPX 16.5 and at the 1305 support level which probably gets breached today.

Strongest sectors- metals, shipping and oil service while gaming, semis and homies lag.

NYSE- 1500 net losers;

NAZ -1150 net loses;

NDX - 6 GREEN;

OEX -12 GREEN;

VIX 22.5 and higher by 6.4% and still only trading at/near the SMA 10;

Down volume 6X the up volume;

TRIN- 1.45;

I suspect an initial bounce near the 1305 level - but that eventually gets sold and the DJIA/SPX close below major support areas- just a trading theory for the day.

So far - long DXD QID and waiting for that SKF entry.