THE OPEN

There goes the first half of yesterdays rally- gone in 30 minutes with the Small caps taking the biggest hit.

NYSE- 1750 net losers;

NAZ- 1100 net losers;

NDX/OEX- 10 green on each;

VIX- up 3% at 46.75;

Down volume 6x the up;

TRIN- 1.3;

Looking to short pullbacks - generally TWM DXD and SRS which may soar on more ugly real estate news from AIG.