Trader Talk

Stocks Slightly Weaker; Blame Banks, Builders

Stocks were modestly weaker Monday: Rotation today out of financials, builders, retailers, back into drugs and energy.

Volume light.

Banks down 4.0 percent, builders down 4.0 percent, retailers down 2.7 percent.

Retail weak because same store sales for January are due this Thursday; most are expecting poor numbers.

Morgan Stanley didn't help, with their downgrade of the credit card companies on concerns about a consumer recession.

Cisco, by the way, down 4.5 percent. They report after the bell Wednesday. Stock is right near a 52-week low.

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