- Stocks fell for the second straight day, continuing their modest pullback from recent all-time highs and sending the Dow and S&P to their lowest levels in two weeks.
- The result "is a combination of three days in a row of data that's not terrible but it's not good, and heading into the big jobs report," says TD Ameritrade chief derivatives strategist J.J. Kinahan.
- Declines were broad-based, with nearly all S&P 500 sectors in negative territory, as telecom stocks (-1.2%) were the worst performers while healthcare was the sole gainer (+0.3%).
- Investor participation was in-line with recent trends, as ~705M shares changed hands at the NYSE floor.
- Treasury prices started higher but surrendered those gains and spent the afternoon near unchanged, with the 10-year note ending flat and its yield at 2.12%.
Stocks slip again, Dow off 106
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Comments (19)
According to CNBC that's all good for the market and economy.
Interst rates are still higher as Europ s moving to neg yields
Ides of March or just nervous twitches waiting for the .25% fed hike? Personally, I would prefer to pull the Band-Aid now and have a minor correct, buy in the dip, and move forward, rather than wait for the fed.
More like delayed April fools. Q 1 GDP and Earnings down 6 + % about 2nd or 3 rd week of April. Stocks should at least decline if not start correcting. But given the Zombie BTFDers - maybe not.
Far too many comments by those bullish on higher equity prices and ever higher markets are basing their strategy on a policy of "don't fight the Fed" and "buy the dips." While this has worked since 2009 it is no guarantee that it will continue to produce results in the future. This mantra will prove very costly when a real correction does occur. For month after month unspectacular economic numbers have been spun and laundered to confirm we have finally rounded the corner and a strong recovery exist. Still some among us still dare to doubt all is well and think the light at the end of the tunnel is a train boring down on us at full speed. The article below attempts to make a case as to why "buying the dip" is a strategy that has ran its course.http://bit.ly/1Ma9LCT
Liquidity? Where? Let's see the liquidity when the crash starts. Particularly in bonds. Last October will look like child's play. Recession in 12 months. Zombie markets driven by zombie central bankers. There are always alternatives.WRT to the so what attitude - please keep running up prices. They fall further and faster then. And don't forget to BTFD cause it gives me another chance to short at a higher level.
How many of you guys are short and hoping for a fall?
3 Puts and one Call. I learned long ago not to hope WRT markets - I simply follow them as best I can.
I'm not a chartist, and I got out of the market in 2013 (after getting in--by luck--at the bottom in 2009) but the chart for the DJ-30 looks ready for a big drop any day now.
Last week mildly sold down into the week's close. Monday looked like a Blowoff. Last 2 days finally showed that stocks can go down - though no biggy - yet.2 studies I have seen show that the ramp up in February was caused extensively by corporate buybacks.Lotsa irrationality out there. 2 Billion of BBB rated Junk bonds went off over subscribed at 3.5 %. Yes - really.