MORNING SLIDE

Markets are lower as the 10:00 economic numbers hit with ISM coming in at 43.5 v 49.5 consensus.

DJIA -180, NAZ 20, SPX 22.

Strong sectors- metals, banks, telecom and drugs while oils, gaming and real estate lag.

NYSE- 1160 net losers;

NAZ- 700 net losers;

NDX- 15 GREEN;

OEX- 20 GREEN;

VIX- higher by 6% at 41.65;

Down volume 2X the up;

Financials are the leading sector if you exclude GE which is hammered by 9% as C JPM BAC MCD KO PG KFT lead the DJIA. Any shot GE becomes the next big story of 2008?

BKX giving me some hope the markets may turn higher buy for now it looks like a buy lower sell higher play as the markets seem to reverse what they did yesterday. RSI (2) is pretty good strategy for that play as major indexes now show:

DJIA -40

SPX -35

NAZ -40

RUT -33

Some fun links for the morning:

Big yields from Kip;

The white house back in the news;

Does this signify a landslide:

The latest from Roubini;