Market Recap: Ugly Love


The Reformed Broker, AKA Oxblood Oxheart, here with today’s Market Recap

The secondary offering parade that started last friday continued today with a jumbo 56 mil share lump out of Capital One Financial (COF) this morning.

The markets used that as an excuse to take profits with the Dow off 150 heading into the last half hour of trading.

The ugliness was exactly where you thought it would be today:

Worst Performing Industries % Change
Life Insurance -6.27%
Accident & Health Insurance -6.05%
Regional – Northeast Banks -5.98%
REIT – Hotel/Motel -5.95%
Money Center Banks -5.32%

The Nazz held up better than the other broader averages, however, but by day’s end, it was pulled slightly into the red as well.

Meredith Whitney, otherwise known as the Dollar Dominatrix, sits down with CNBC‘s Closing Bell today and traders spent the day wondering what fresh revelations she may have regarding her favorite punching bag, Citigroup (C).  I guess we’ll see!

Speaking of ugly, I leave you in the capable hands of Eels, performing Ugly Love off of 2005’s Blinking Lights and Other Revelations.

Thanks for reading today, have a nice night.

Full Disclosure: No positions mentioned.  Please do not trade based on anything you read here.

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