NOON SWOON
Markets continue to sell off hard as the DJIA is down 300+ points as I type. Seems as if never another private equity deal/takeout and certainly never another up day in the equity markets.
Strong stocks include AAPL VRTX CELG APOL AMZN F PG BIDU FSTR BG and CROX.
Weakest stocks AKAM LVLT JOYG PCAR CMCSA FISV LBTYA BDK AA EXC LEH GM GS PCR CENX TBSI GSOL CF ACH and ELP.
Market internals again as bad as they get with 260 up and 3,050 down on the NYSE and 430 up and 2,600 down on the NAZ.
The NDX has 8 winners while the OEX and the IBD each have 4 stocks higher;
Volatility off the charts as the VIX is up 20% and the VXO up almost 25%
I plan on scaling into futures this afternoon as I suspect stocks have some value to someone. And what will happen when/if the next deal is announced?
posted by DAVID at
12:44 PM
2 Comments:
But don't weak markets usually close near their lows? Or is this sell-off overdone in your opinion?
AJ
Markets that are weak all day tend to close at/near their lows. Today we may find buying in the final 30 minutes. We will see.
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