OPENING FACTS

Major market indexes are lower again despite good news from FNM on sale of bills and ABK also moving up on some good news.

Strongest sectors include airlines, homies, shipping, oils and small caps while semis, gaming, drugs and tech lag.

Flat internals across the board;

Most of the financials I track are higher to flat with the exception of GS which another down grade this morning.

Direction for the markets from here- no real idea but oil going lower not the help most expected- when oil hit the high on July 11- the SPX was 1240- so a 27% drop in crude prices and a 3% increase in equities- big deal.