THE USUAL

Markets open lower and the DJIA is down 240, NAZ 39 and SPX 25.

Strongest sectors include banks, semis, drugs and utils while metals, emerging markets, oil sevice and ags lag.

NYSE- 2150 net losers;

NAZ- 1260 net losers;

NDX- 8 GREEN;

OEX- 8 GREEN;

VIX- higher by 6% at/near 64;

Down volume 12X the up;

Starting out ugly again and don't have a very good feel- waiting but my suspicion is if we get some lift in the major indexes I will look to fade it via SDS DXD TWM QID.