THE OPEN

Markets are lower as the trading rules kicked in - markets were way over bought and Challenger expects almost 700K jobs lost for Dec- DJIA -150, NAZ -35 and SPX -17.

Strongest sectors- ags, drugs, biotech and utils while gaming, semis, shipping and oils lag.

NYSE- 1800 net losers;

NAZ- 1200 net losers;

NDX- 7 GREEN;

OEX- 15 GREEN;

VIX- higher by 5% at 40.5;

Down volume 5X the up;

Trading Markets trading rules (10);

GLOOM DOOM BOOM;

Looking for 900 on the SPX as the initial down side target- the internals are very ugly and this can be one of those good old days where the markets close at/near the lows.