THE OPEN

Markets, as expected, crushed in the opening 30 minutes of trade as all sectors except gold are lower.

SPX -33 and NAZ -60.

Worst sectors- shipping, ags, financials, energy and brokers.

NYSE- 2455 net losers;

NAZ- 1640 net losers;

NDX/OEX- 2 GREEN on each;

GOLD at $970;

VIX - higher by 19% at 51;

Down volume about 20x the up on the NYSE'

TRIN- 1.6;

We have broken below 800 on the SPX and way below 1200 on the NDX- not expecting much of a bounce today but shortly as markets are way oversold yet again- and betting short from these levels hasn't been a winning trade.