THE OPEN

Markets are lower on the heels of over bought conditions in all the major indexes.

Strong sectors- internets, metals, oils and ags while homies, gaming, semis, real estate and reits lag.

NYSE- 700 net losers;

NAZ- 435 net losers;

NDX/OEX- 40 out of 200 green;

VIX and TRIN- rising -

Down volume almost 3X up;

Oil moving up - and Cramer now saying on his site that Nat Gas is heading straight for $7 and getting bearish on the whole complex- hmmmm;

If you check the action- the stocks that have been the strongest during this rally are getting hit the hardest- LVS WYNN MGM C MER etc-

And yet again the 38.2 retracement on the SPX at 1292 was at/near the high of this rally;