Good morning. Premarket futures are trading lower as signs continue to mount that the real-estate bubble has popped.

This morning's clue comes directly from top gun Toll Brothers (TOL) who provided a disappointing outlook. A lot is going to be made over this warning, and while one company doesn't make a market, this news will be widely discussed among the rank and file on Wall Street. Of course the fact the newswires are relatively quiet again this morning is not helping matters much. Otherwise I'm relatively sure the bulls would find some way to ignore it.

Like yesterday I'll be looking for a few small-scale trades but not much more than that. As I wrote last night, we should prepare for the most likely scenario ahead - more volatility and sideways movement. Trade well!