The bears are getting their swagger back this afternoon as the Dow edges close to a triple digit dip. Even the Fast Money crew checked in with a bit of cautiousness just now.
I have little pity for anyone playing this rally without having put on stops or taken some gains off the table.
A look (1pm) at the Advancing versus Declining Issues shows us how widepread the selling is today.
|Advancing Issues||966 (25%)||198 (27%)||728 (27%)|
|Declining Issues||2,746 (72%)||493 (68%)||1,870 (69%)|
This one was triggered by wack earnings reports from Alcoa and EA, tangible examples of how bad things are in some segments of the economy. We’ll see if the dipbuyers wanna wager that these two were one-offs.