MORNING MOVES

Markets open higher but are now well off their best levels as the consumer confidence number comes in at 38- the worst level ever.

The DJIA +200, NAZ +30 and SPX +18.

Strong sectors include emerging markets, ags, metals, energy, telecom and internets- laggards include homies, bioteck and brokers.

NYSE- 1100 net winners;

NAZ- 600 net winners;

NDX- 80 GREEN;

OEX- 90 GREEN;

VIX- 74 down 7%;

Up volume 3X the down;

Markets seem to be selling off a bit early (even for these markets) so a snap back before long is probably in the cards- note however the crummy action in the brokers as GS is down 6%-

Zogby continues to be an outlier in the polls as this morning he has OBAMA +4 v most other polls with Obama +7 or 8- and now the reason- he uses 38/36 for dems and repubs v 40/33 for Rasmussen- I guess we will find out who is right before too long.