- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
TRADER TALK RSS FEED
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
- UAE Markets Seen Limit Down on Monday Open
- Dubai's Debt Woes Signal New Era for Creditors
- US Treasury Wants Banks to Do More to Ease Mortgages
- Fed Audit Would Hurt Economic Prospects: Bernanke
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Dubai Stock Selloff May Bring Buying Opportunity
- Black Friday Sales Rise by 0.5%: ShopperTrak
- Longer Lines, Fuller Carts This Black Friday
- Big US Banks May Be Forced to Raise Capital: Bove
More Videos
Trader Talk
Text Size 
Technically, the day was horrible:
1) the S&P 500 broke through its July 15 closing lows of 1,214.91, and the intraday low of 1,200.44.
2) it was the worst day for the S&P since September 17, 2001;
3) new lows expanded to the highest level since the July lows;
4) this was almost certainly a 90% downside day, with 90% of the volume going to stocks on the downside.
We almost certainly would have broken through the important 1,200 level on the S&P 500 had there not been a report that the feds have asked Goldman and JP Morgan to lead a $70 to $75 lending facility for AIG; this took AIG [AIG
Loading...
()
]and the markets off their lows just after 3:30 ET.
 |
One of the few bright spots: the CBOE Volatility Index (VIX) moved over 30 today. The good news is that each time it crossed that line--in January, March, and July--we saw market bottoms. The bad news is that each time the rallies did not hold.
While financials were the focus, the decline in energy and material stocks was also brutal, with double digit declines in coal companies like Massey [MEE
Loading...
()
](down 13 percent), refiners like Valero[VLO
Loading...
()
] (down 12 percent) E&P companies like Anadarko [APC
Loading...
()
](down 9 percent), large oil service farms like Schlumberger [SLB
Loading...
()
](down 4 percent).
On concerns that commercial real estate assets may decline, we also saw double-digit declines in big construction and engineering firms like Shaw,[SGR
Loading...
()
] Fluor[FLR
Loading...
()
], and KBR.[KBR
Loading...
()
]
_____________________________
New from CNBC.com:
_______________________________________
CNBC's Names in the News:
General Electric [GE
Loading...
()
]
Lehman [LEH
Loading...
()
]
_______________________________________
LATEST FROM TRADER TALK
Questions? Comments?
POPULAR TRADER TALK POSTS
- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
Data is a real-time snapshot *Data is delayed at least 15 minutes