Wednesday, February 18, 2009

20090217 PM

Dow 7,552.60 -297.81 (3.79%)
Nasdaq 1,470.66 -63.70 (4.15%)
S&P 500 789.17 -37.67 (4.56%)
30-yr Bond 3.486% -.196
Gold and silver up.

Volume is picking up. Look for a gap down in the morning. This will either be a good short term buy for a multi-day recovery, or a free fall. It looks with the market having been closed on Monday and a big gap down Tuesday, that significant selling pressure has been used. There is little/no buying pressure.

XLF 7.97 -.88 (9.94%). Many financials made 52 week lows.

AA 6.75 -.73 (9.76%). Closed at 52 week low.

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