Hefty losses across the board. Stocks are attempting a last hour bounce and we will see what kind of intraday short covering that produces in order to enter some more downside positions.
SP500-25.78, -1.27%
NASDAQ -85.06, -1.60%
DJ30 -211.65, -1.15%
SP400 -1.67%
RUTX -1.92%
SOX -2.21%
The indices are showing some serious breaks lower. Just as this morning, there is no dominant story sending stocks lower unless you want to consider some early weak earnings with weak guidance. Given it is earnings season that could very well be the situation.
The decision is how much you go in on the downside what with the FOMC minutes Wednesday and the Fed always in the background. Still, there are sharp moves lower to take advantage of. Looking at JACK, DIA to go with the IP position.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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