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- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
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It was a bad day, but you wouldn't know it from watching the action.
Idle traders seemed more interested in watching Bernie Madoff motor around midtown Manhattan than tracking the slow decline in the market.
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Volume was again moderate (though a bit higher than in the last few weeks), and at 9-1 advancing/declining stocks we just barely missed one of those 90 percent downside days that were so common in the fourth quarter.
Financials were again the weak spot, leading the market lower as the Bank Index finally broke through its old November lows.
JP Morgan [JPM
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] will report tomorrow; most analysts now expect the bank to post a loss amid a significant increase in credit costs and more reserve building. Lots of interest in what is buried in the old Washington Mutual.
Citigroup [C
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], which dropped 23 percent and also moved its earnings report up, cannot get a break: the Street never like it when it ran on the "supermarket" model, and now that that model is being dismantled, the Street still doesn't like it.
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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
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