MIDDAY THOUGHT

Markets continue to trade poorly as the regional banks continue to get crushed- FHN WM NCC etc-

Strong sectors include metals, oils and steel while banks, brokers, internets, real estate and gaming lag.

NYSE- 1600 net losers and straight down all day;

NAZ- 1210 net loses and straight down all day;

NDX- 23 GREEN;

OEX- 35 GREEN;

IBD- 50 GREEN;

VIX- 29 and higher by 5%;

Crude- 145 and holding steady;

GOLD- $974 and moving up;

Down volume about 3X up;

Hard to see how any rally sticks today with these sour market internals- looks like shorts will put em out every time there is a slight rally and they are probably correct for now. Remember markets that are weak all day tend to close near the lows and these internals are awful.