MORNING TRADE

Markets have headed straight down since the open and as I type the DJIA is -160, SPX -18 and NAZ -40.

Strongest sectors- drugs, retail, fins and real estate while materials, energy, trannies and homies lag.

NYSE- 1800 net losers;

NAZ- 1350 net losers;

SPX- 47 GREEN;

NDX- 8 GREEN;

RUT 2K - 250 up 1600 down;

VIX - about 31 and 6.6% higher on the day and a hair under the SMA 10;

RSI (2) on most major indexes at/near 15;

Still looking to buy a bounce for a quick flip but so far no dice- its coming as we wont go straight down - and it will be quick.