Market recap: Stocks closed sharply lower after a late selloff, perhaps sparked by profit-taking...

Market recap: Stocks closed sharply lower after a late selloff, perhaps sparked by profit-taking from money managers looking to rebalance at month's end. Although the Dow finished with its sixth straight monthly gain, today was the eighth session in a row where the index swung in a triple-digit range. Treasury prices fell again; 10-year yields, now at 2.19%, rose more than in any month since Dec. 2010. Oil and gold fell (I, II).
Comments (14)
  • Teutonic Knight
    , contributor
    Comments (3791) | Send Message
    No panic; no panic at all; the wonder boy is in firm control...
    31 May 2013, 04:20 PM Reply Like
  • tomlos
    , contributor
    Comments (1299) | Send Message
    I welcome this.. looking to pick up a couple positions and love the pullbacks.
    31 May 2013, 04:25 PM Reply Like
  • mobyss
    , contributor
    Comments (2641) | Send Message
    I agree - another 8 to 12%, maybe 15%, and certain stocks will look decent again...
    31 May 2013, 04:37 PM Reply Like
  • WisPokerGuy
    , contributor
    Comments (1404) | Send Message


    Everyone has been looking forward to a sell-off for weeks now so they can stock pick and then when the market hints the readjustment might actually come, everyone panics and cries out "The Sky Is Falling!!!". Watch for the litany of "gloom and doom" articles to be posted over the weekend on SA.


    I'm 53 years old and people just continue to make me laugh. :)
    31 May 2013, 05:26 PM Reply Like
  • David Pinsen
    , contributor
    Comments (2284) | Send Message
    I welcome it too. Because I'm hedged.
    1 Jun 2013, 04:18 AM Reply Like
  • CraigPowell
    , contributor
    Comments (130) | Send Message
    Agree with you, see also the PMI report
    There are 4 important indicators showing that the economy is doing very well.
    *Index of U.S. consumer sentiment climbed in May to 83.7, the highest level since July 2007
    * The report says that production (for the average business polled) significantly increased in May versus April... 42% surveyed said production was up, compared to 29% in April.
    * There was an increase in new orders as well as order backlogs.
    * Employment changes in May were also much better: up for 23% of businesses, the same for 68%, and down for 9%, and this was much better than April's 18% up, 64% the same, 18% down.
    Production is bigger, new orders are bigger, backlogs are bigger, and employment is higher.
    Positive signals on the U.S. economy were published by:
    I Know First algorithmic system already last December:
    1 Jun 2013, 04:35 AM Reply Like
  • Agamemnus
    , contributor
    Comments (1070) | Send Message
    Why plagiarize?
    1 Jun 2013, 12:27 PM Reply Like
  • KJP712
    , contributor
    Comments (472) | Send Message
    Late spring/early summer in the Hamptons.There are barbecues that need planning and tans that need attention.Very little time is left for trading.Ask Doug Kass,he knows...
    31 May 2013, 05:01 PM Reply Like
  • Oxyman
    , contributor
    Comments (151) | Send Message
    Amen, KJP712, turning off my Think or Swim platform, ditching my stock portfolio and jumping into my pontoon boat to enjoy the summer. Just gotta look out for those hurricanes while on the boat. Have a good summer, everyone.....
    31 May 2013, 06:11 PM Reply Like
  • dweebster
    , contributor
    Comments (529) | Send Message
    Buy good stocks on pullbacks. Ignore media hype and do your own thinking. We may be about to be presented with a nice opportunity to pick up shares of companies that have been sold by fund managers, that we have wanted to buy for quite a while. Or one can simply do nothing, if in doubt. Good companies won't go away. Deere is still Deere, same tomorrow as yesterday. Ditto Union Pacific, Praxair or any number of outfits with great histories. I do find it wierd that good news seems somehow to have caused a selloff, if that's what really drove the market. Maybe profit taking by short term investors? Even if the Fed begins to withdraw support, don't see that that suddenly makes good companies bad . . . .
    31 May 2013, 09:22 PM Reply Like
  • Brian Barbour
    , contributor
    Comments (1346) | Send Message
    So sell in may and go away...thank god i don't listen to the so called 'pros' of CNBC who preach this religiously beforehand then change their mind at the first sight of them being wrong. May turned out to be a good month all round for stocks.
    1 Jun 2013, 05:10 AM Reply Like
  • Joe2922
    , contributor
    Comments (488) | Send Message
    Actually, Sell in May is still valid, a June selloff.
    This is probably the oldest market axiom and has a good hit or success rate.
    In fact, a good case can be made to sell next week, then gauge the action in a decline. No need to make medium and long term decisions, let the market tell me what to do:
    1 Jun 2013, 09:48 AM Reply Like
  • june1234
    , contributor
    Comments (4482) | Send Message
    Stocks, oil, gold, treasuries..all down
    1 Jun 2013, 09:54 AM Reply Like
  • djoerly
    , contributor
    Comment (1) | Send Message
    There is so much opportunity resulting from the "Mass's" emotions. It's nice to finally be one of the few that can just step aside and enjoy the swings.
    1 Jun 2013, 02:33 PM Reply Like
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