I am not sure what to say to you all. This is truly an amazing sick, raging bear. Everyone seems to be scared off their pants and the VIX( meter of sentiment in the options markets) has not even reached the levels of January. Is there more to come? For God’s sake, CitigroupLoading... (C) is at the lowest point in years, down 63% since May 2007. The next area of focus is the intraday low of 1,269.75 reached on January 23rd. Is this a retest of the January lows, or the next leg down? It sure looks like a cheap time to buy stocks, but I like what Bespoke wrote about the market:
“The S&P 500 broke to new closing lows today and is now down 0.5% from the prior lows seen on January 22nd. As shown below, Financials, Health Care, Telecom, Technology and Utilities brought the market lower over this time period, while Consumer Discretionary, Consumer Staples, Industrials, Energy and Materials did their best to keep markets higher. On an individual stock basis, YHOO, EOG, AA and BIG are up the most since the 1/22 lows, while FNM, FRE, MYL and GOOG are down the most. AAPL, AMZN and MOT are other notables on the list of losers. ”
And this below is a great place to scoop out stocks that are selling cheap:
No comments:
Post a Comment