THE OPEN

Markets open lower on the heels of ugly news from BBY- and AXP converting to bank status- TARP for everyone.

Strongest sectors include banks, semis and drugs while shipping metals and real estate lags.

NYSE- 1800 net losers;

NAZ- 1030 net losers;

NDX- 13 GREEN;

OEX- 7 GREEN;

DJIA - GM the only green;

VIX- higher by 5% at/near 64.5;

Down volume 7x the up;

In light of the weak open and weak markets of the last few days - I am looking to flip from short to long and have sold off my SDS near the open- interesting opportunities in DIG as it appears to be ready for a bounce if there is any bullish news at all in the inventory numbers.

MORN with 5 stocks you don't want to own and how is Warren doing with those warrants?