Dow Jones 9.686.48 -46.05 -0.47%
Nasdaq 2,091.79 -9.57 -0.46%
S&P 500 1,022.58 -4.79 -0.47%
Coulda been better. Coulda been worse. There's irrational exuberance and there's irrational bearishness.
We're somewhere in between. Just about everything was down again, though copper and steel weren't too bad. FCX (58.21 +0.05%) and PKX (94.74 +0.07%) did better than US Steel (X 37.66 -1.26%). It's always interesting when copper is up while the FXI is down (39.02 -0.91%).
While the Euro (FXE) was up slightly (125.08 +0.25%), the US Dollar (UUP) was down (24.57 -0.12%). That should make for a positive US market, right? Not today, not with oil (USO 32.64 -0.70%) down.
GLD (118.49 +1.24%) and SLV (17.46 +0.11%) took a pause from their sharp declines.
While GLD and SLV have sold off, TLT is still above 100.
Inverse ETNs did well. TZA gained 3.23% to 8.63.
Real estate bears had their way. DRV (Real Estate Bear 3x) gained 5.98% to 8.33. SRS (UltraShort ProShares) gained 3.77% (30.42).
FAZ gained 3.05% to 18.31 while finnies were lukewarm. GS lost just 0.05% to 131.08 and Citi gained 0.26% to 3.79.
STD dropped 1.36% to 10.92 after some massive gains.
AAPL tested its recent low again, bouncing off 243 to finish at 246.94. I've wanted 260 and 250, but I'll hold off on an entry point until this iPhone antenna issue has some kind of resolution.
Still 100% cash for more than 3 weeks. Watching from afar is best at this point.