OPENING NON MUCK

As usual, markets are off the lows in the early morning trade as the SPX futures traded down to the 825 level in the over night futures session- now about 50 points or 6% off those levels.

The DJIA -30, NAZ -10 and the SPX 3- all useless information since by the time you read this it will be far different.

Strong sectors- banks, real estate, retail, telecom and homies while metals, emerging markets, biotech and defense lag.

NYSE- 550 net losers;

NAZ- 500 net losers;

NDX- 50 GREEN;

OEX- 50 GREEN;

VIX- down a bit at 76;

Up volume a shade better than down;

Markets look/feel like they want to move higher and would a rally from these levels shock anyone as these were the prior lows on the SPX yet again.

FWIW- and I think its interesting information- 13% of stocks on the NAZ - now trade over $20- and more than half of the stocks on the DJIA stocks trade at $30 or less.

BESPOKE with some great stuff;

BARRY with some awesome charts on how bad it really is;

And of course the worst is yet to happen from Nouriel;