MORNING MOVES

Markets moved lower at/near 10.00 eastern on the release of the confidence number - and it missed- Currently the SPX -13, NAZ -15 and the DJIA -123.

Strong sectors- real estate, semis, retail, small caps and junk while metals, commodities, oil service, brokers and telecom lag.

NYSE 1100 net losers;

NAZ- 600 net losers;

NDX- 13 GREEN;

SPX- 47 GREEN;

VIX- higher by 8% at 27.35;

Down volume about 6x the down;

Gold, oil and nat gas all lower;

Bought some SDS this morning as it appeared something with the bulls was out of whack as futures were moving up while financials were going lower and internals were flattish- and caught a nice move there- sold a bit too early- and will probably short again - this afternoon on a pull up.