THE OPEN

Markets open lower and the first bounce has already been sold as we are back near the morning lows. Too many folks may be expecting the recent results of opening at the bottom and then a climb through the day- don't think that works today.

Strong sectors- metals, semis and oils while financials, brokers, gaming, internets and retail lags.

NYSE- 1900 net losers;

NAZ- 1265 net losers;

NDX- 18 GREEN;

OEX- 15 GREEN;

VIX- higher by 6% at/near 32.25;

Down volume 5X the up;

TRIN -1.01;

Don't plan on doing much today as the markets move a hair faster than I like-

AIG- looking like people finally coming to their senses and it looks like its heading back to a 1 handle.

Also saw that Cramer was buying MS for his AA portfolio - not sure I want that risk now- it could be a home run or it could head to single digits.