THE SELL

So far the morning is playing out as Doug Kass suspected - just wondering if the bulls show up later today and defend with end of the month buying- its early.

Strongest sectors- defense drugs and junk while energy, metals, gaming and biotech lag.

NYSE- 1600 net losers;

NAZ- 1300 net losers;

NDX- 5 GREEN;

SPX- 30 GREEN;

VIX- barely higher at 25.7;

TRIN- .6 with down volume 3x the up- this indicator becomes less valuable as stocks like FNM FRE C BAC skew the volume -

As I say- this could very well turn around later in the day as the bulls try to defend their recent gains.