THE OPEN

Markets are trading down as the 885 level on the SPX was sold - old support - new resistance- the DJIA -45, NAZ 17 and the SPX -6.

Strong sectors- energy, metals, gaming, shipping and ags while semis, banks, telecom and real estate lags.

NYSE- 650 net losers;

NAZ- 480 net losers;

NDX- 15 green;

OEX- 25 green;

VIX higher by 4% at 56.5;

Down volume about 1.5X the up;

Small cap value and tech the big losers so far with each down over 1%;

The sell off occurring a bit early so looking to buy the dip for an afternoon bounce- hey the bull market started a few weeks ago.