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
11/12/08 - 5.17% Treasury not buying toxic mortgage assets.
Best Buy earnings warning horror.Intel just cut Q4 guidance.
GOOG below $300.
finance.yahoo.com
NYSE Volume 1,576,267,448 low for the decline.
Up Volume 235,920,079 (15%)
Down Volume 1,323,195,334 (84%)
Advancers 323 (9%)
Decliners 3,250 (90%)
New Highs 9
New Lows 542
Nasdaq Volume 2,225,538,253
Up Volume 89,239,201 (4%)
Down Volume 2,094,223,358 (94%)
Advancers 412
Decliners 2,504
New Highs 99
New Lows 600
Put/Call ratio 1.16
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 66.46
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
$XAL Airlines 18.63 -2.75 -12.86%
Delta Air Lines Inc., American Airlines parent AMR Corp. and United Airlines parent UAL Corp. tumbled, pacing a benchmark index to its worst drop since 2001, on concern that the weakening U.S. economy will damp travel.
Crude $55.47 I never thought it was going this this low!!
Nat Gas $6.31.
Gold $712
Silver $9.30
Copper $1.62
DJIA 8282.66 down -4.73% -411.3
S&P 852.3 down -5.19% -46.65
NASDAQ 1499.21 down -5.17% -81.69
click for chart
Quote of the day
We've got a few lean years ahead but that's nothing to fear. In fact, it's a healthy and positive progression. To get through this, we need to go through this. As painful as that process is, it takes us one step closer to an eventual recovery. - Todd Harrison
The portfolio was down 8.12% no greens.
In the 2000-2002 bear, we had 10 days of 5%+ declines. Now we are at SIX. The volatility is going to be high until we see the funds stabilize.
INTC and BBY news was ugly. Expect another bad day tomorrow. |
