THE OPEN

Markets open lower but are way off their worst levels as strength is found in semis and telecom and weakness in banks, trannies, energy and real estate.

NYSE- 1950 net losers;

NAZ- 990 net losers;

OEX- 15 GREEN;

NDX - 25 GREEN;

VIX- down a hair at 47.2;

TRIN- .6 with down volume 4x the up;

Gold up $3 at $910;

Suspecting a down biased choppy day and will look to play with TWM SDS DXD- and maybe some DIG longs-