Wednesday, September 28, 2011

Stocks sell off in last hour....

It looked as if whatever was holding the market up, was pulled away in the last 45 minutes.

Dow -179
Nas -55
S&P -24 to 1151

All groups were lower, but commodities and transports were beaten up the most.

Amazon closed up 5.50 to 229.71
Apple fell three points in the last 30 minutes to close at 397.01
Gold ETF (GLD) fell 4.41 to 156.22 - a new low in the latest move lower

In each of the last two trading sessions, stocks have sold off hard in the 3-4 pm hour.  Today we were up over 120 points early, then closed down 180 on the day.  That is not a good tape.  Another selloff like this tomorrow, and we will move to "full protection mode" again.

No comments: