THE OPEN

Markets open lower on the heels of over bought conditions and NO DEAL announcement on the LEH front which is down almost 5% to the $13.6 level.

The DJIA -115, NAZ -25 and SPX -11.

Strong sectors include metals and oils while financials, real estate, trannies and retail are the worst.

NYSE- 1250 net losers;

NAZ- 1000 net losers;

NDX- 10 GREEN;

OEX- 10 GREEN;

IBD- 35 GREEN led by GMXR CF ENSG WLL SWN TESO AFAM;

VIX- higher by 7%+ to the 20.2 level;

Down volume 2.5X the up;

CRUDE- higher by about $.60 cents at/near $115;

Gold - down a bit at $830;

EURO rising at 1.48;

SPX testing the 1280 level after hitting the upper range of its recent moves on Friday- I guess even Buffet only has so much to give to the markets and with nothing happening in the LEH end probably a trend day lower is the most likely action today.