Record Nasdaq days on the downside
10/19/87 -11.35 %
04/12/00 -9.67
09/29/08 -9.14 No bailout, WB bought by C. Dow down 7.0%. S&P down 8.74%
10/20/87 -9.00
10/26/87 -9.00
08/31/98 -8.56 Russian and LTCM crash
10/15/08 -8.47% Retail numbers were bad, beige book bad.
04/03/00 -7.64
01/02/01 – 7.23% Funds lock in profits, Robbie Stephens downgrades EMC, INKT, NTAP, many others. NAPM Index at 43.7% (consensus was 47.1%), the lowest since April 1991 and indicative of a continued contraction in the mfg. sector
12/20/00 – 7.12% FDRY takes down infrastructures with the warning.
04/13/00 -7.02
10/27/97 -7.02 Asian Financial Crisis
09/17/01 - -6.83 Trading resumes after the WTC bombing
03/12/01 – 6.30% CSCO warns prior period, Barron’s pummeling fiber optics stocks, ERICY warns.
01/05/01 – 6.20% BAC rumors of bad shortfall due to CA utilities and CSCO rumors of missing quarter sent it down.
04/03/01 – 6.17% - ABRA, ITWO, RBAK, AXP, INKT, ENTU, BVSN, warn last night.
03/27/80 -6.15%
03/28/01 – NT and PALM warn the night before sending networkers down double digits.
05/23/00- 5.93%
10/07/08 -5.80% MS fears the Japanese bank will pull financing and BAC has horrid earnings.
11/5/08 -5.53% election results and profit taking after 205 runup.
10/09/08 - 5.49% GM and MS downgrades, shorts allowed back
finance.yahoo.com
NYSE Volume 1,154,096,972 Quite low for the decline.
Up Volume 1,154,096,972
Down Volume 776,323,158
Advancers 686
Decliners 2,763 (79%)
New Highs 3
New Lows 67
Nasdaq Volume 2,092,418,918
Up Volume 198,772,865 (9%)
Down Volume 1,884,651,095 (90%)
Advancers 575 (20%)
Decliners 2,259 (77%)
New Highs 3
New Lows 84
Put/Call ratio 0.94
Under 0.40 is Very Bullish sentiment, 0.40-59 Bullish, 0.60-0.79, Neutral, 0.800-0.99 Bearish, Over 1.00 Very Bearish. When many are bullish, this may be time to take profit.
VIX 54.56
When it runs below 20, usually a good time to take some profits. If above 35, good time to buy.
Sector Watch
Breakout of the day
All sectors red.
Collapse of the day
$DJR REITs 156.66 -17.96 -10.29%
Retail REITs are down 8% following disappointing results from General Growth Properties (GGP 2.53, -1.96).
Crude $65.10
Nat Gas $7.25 quite strong moves in a few days.
Gold $738 down $100 in 2 weeks
Silver $10.26
DJIA 9139.27 down -5.05% -486.01
S&P 952.77 down -5.27% -52.98
NASDAQ 1681.64 down -5.53% -98.48
Quote of the day
"Funds of funds are receiving their monthly letters, and they may pull their money from the hedgies" - cramer
the portfolio was down 7.61. no greens.
In the 2000-2002 bear, we had 10 days of 5%+ declines. Now we are at FIVE. The volatility is going to be high until we see the funds stabilize.
Today was simply profitaking after a 20% runup.
CSCO news CC was ugly. It is down 10% in aftermarket. Expect another bad day tomorrow. |
