MIDDAY LOOK

Markets continue lower - briefly breaching the 8K area on the DJIA - now bouncing but I doubt for long.

Strongest sectors- retail, gold, junk, internets, semis and tech while banks, shipping, telecom and real estate lag.

NYSE- 2300 net losers;

NAZ- 1400 net losers;

NDX- 25 GREEN;

OEX-5 GREEN;

VIX - soaring 11% at/near 55;

Down volume more than 12x the up;

Check out the action in WFC - the bank owned big by Warren- also down 15% today - so not such a great investment either- and his GE warrants - well GE almost back to the 2008 lows- just wondering how long before that one becomes a single digit.

A bounce from 8K on the DJIA is probably in the cards - and maybe even the end of margin selling also gives us a lift into the close- not expecting much - but a strong close would be nice- not expecting it though.