MIDDAY LOOK

Markets still a way down with very little in the way of a bounce. SPX -33, NAZ -56 and the RUT -16 and out performing the other indexes.

Strong sectors - gold, drugs, biotech and corporate bonds- weakest- banks, ags, oils, shipping and semis.

NYSE- 2630 net losers;

NAZ- 1720 net losers;

VIX- higher by 16% at 50;

TRIN- 1.22 - down volume about 18x the up on the NYSE;

GOLD higher by $31 at $973;

Only question for the day is if we close at/near the lows and my suspicion is yes.