The Reformed Broker, AKA Brian Fantana, here with today’s Market Recap…
The Dow lost around 130 points, but surprisingly, Bank of America (BAC), Citi (C) and the other big banks were flattish all day.
Here’s where the carnage was:
|Laggards in Price Performance (Intraday)|
|Internet Service Providers||-6.30%|
|Resorts & Casinos||-5.73%|
|Farm & Construction Machinery||-5.37%|
|Oil & Gas Equipment & Services||-5.35%|
|Medical Equipment Wholesale||-5.10%|
|Long Distance Carriers||-4.64%|
|Publishing – Books||-4.58%|
Gold and the gold miners were incredibly strong. Is it because of inflation expectations or do we all just want to be John Paulson when we grow up (he’s been loading up on gold all Spring according to recent filings).
Anyway, today was a brick, so enjoy the Best of Brick Tamland (Anchorman) above.
Thanks for reading and have a great night!
Full Disclosure: No positions mentioned. My commentary above is strictly a recap of market activity and not an invitation to buy or sell any securities.