THE DB's

Markets are trading lower but off the worst levels of the morning - the SPX -13, NAZ -30 and the DJIA -120.

Strongest sectors- drugs, metals, commodities, telecom and energy while homies, materials, reits, trannies and banks lag.

NYSE- 2,150 net losers;

NAZ- 1,600 net losers;

SP 500 80 green 420 red;

NDX- 10 GREEN;

OEX- 25 GREEN;

VIX - higher by 3% at 32.7;

Gold higher, Crud and nat gas near unch and the 10 year rate at 3.107:

Equities made their lows in the first 10 minutes and have bounced- an interesting area to trade may be the DBA/DBC etf's which are in nice uptrends and I suspect will continue to move higher.

Other longs I am looking to buy (not necessarily today) include LUK FCX BHP SMH and L.

RSI (2) levels now in buy able territory:

QQQQ 4

SPY 14

DJIA 22

RUT 11