Gottfried, I think this says it all. Profits for the SOX companies keep improving, and prices keep going down.
<<14:30 ET Dow -21.39, Nasdaq -17.38, S&P -3.62
[BRIEFING.COM] Market bounces off its worst levels but continues to sport broad-based losses. Adding to today's struggles has been the inability by the Dow, S&P and Nasdaq to find initial support above key technical levels of 11355, 1287 and 2228, respectively. The Nasdaq is still leading the way lower (-0.8%) among the majors, paced by consolidation across the board in technology led by the SOX slipping into negative territory for the year, as well as weakness in retail (e.g. BBBY, SHLD, SPLS, URBN) and transportation (e.g. CHRW, EXPD). ..Computer Hardware Index -1.2%. ..GSTI Software Index -1.1%. ..DJTA -0.7%. ..SOX -1.8%. ..DOT -0.9%. ..NYSE Adv/Dec 1033/2119. ..NASDAQ Adv/Dec /. |
