MORNING DIVE

Markets are lower but holding with the SPX down 22, DJIA -185 and the NAZ -48.

Strongest sectors- bonds, drugs and tech while metals, gaming, oil service and emerging markets lag.

NYSE- 2500 net losers;

NAZ- 1900 net losers;

NDX- 1 GREEN;

SPX - 27 GREEN;

VIX - higher by 15% at 27.9;

TRIN- 1.09- down volume 15x the up;

RSI 2 levels:

SPX- 11

DJIA 10

NAZ 10

NDX 10

RUT 9

Probably a day where we close at/near the lows - but also a day to start some long positions or cover some shorts- even Doug Kass said on twitter he was covering one half his trading shorts.

Stuff I am looking to buy for longer term positions EWC EWZ FAX- also some high yield mutual funds - FSICX FAGIX.