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Should I mention that the Dow has fallen 800 points since I declared the 'weakness until the inauguration' idea to be the dominant theme? Would it be garish to do so, do you think?
Oh me, oh my.. what to do. Without the 'toot toot' of self-congratulation, there seems to be little else of note happening in the world (although the response of bonds - with the long bond rocketing more than 2 points, is a pain).
One thing I would mention though, is that any person of conscience is obliged to boycott products made in 'Israel' or made by firms with a history of support for the putrid racial-supremacists that run the government that is continuing its illegal occupation and slaughter of Palestine. You can tell products made in 'Israel' - their barcode begins with 729 (see here) and there are any number of lists of companies whose management are pro-Zionist racial supremacists.
To engage in such a boycott is absolutely not anti-Semitic: for one, the Ashke-Nazi are not Semites (they are Eurotrash). Engaging in a boycott is - specifically and with reason, anti-Zionist (and anti-apartheid). It is also an expression of your economic sovereignty: and besides, deliberately diverting expenditure away from inherently evil things is a good thing to do.
Secondly this stuff has nothing to do with da Jooze. Herzl may have been a Joo, but his theory was nationalist racist twaddle that sought to exploit the silly "A burning shrub promised Palestine to Moses" story.
I do think it's quite funny that people like Tzipi Livni - whose parents were both Polish-born Irgun terrorists - has anything to say about terrorism. Go back one or two generations from any of these "Semite" leaders and you will find an Eastern-European peasant: the actual Palestinian Jooze were able to live for two thousand years, side by side with the Musselmen and Jeebus-freaks.
So in sum - it has nothing to do with Joo-ism (or with religion whatsoever)... it has to do with the fact that you can take a the riff-raff out of the hovels of Eastern Europe, but you can't take the hovel out of the riff-raff: a race that shits where it sleeps is never going to integrate well with others.
Economic News
Export and Import prices both fell (by 1.9% and 1.1% respectively - there's little point in even bothering looking at these indices though, since they apply to a period during which the US Dollar was melting up as a result of repatriation of foreign dollar balances by corporates, who needed to buy USD to pay debts that they could not roll over (he corporate paper market having frozen at the time).
But the big news was the fall in Retail Sales: both ex-autos and overall, the decline was steep (-2.7% overall, -3.1% ex-autos), which was much weaker than expected (both measures were expected to fall by 1 to 1.2%).
This marks six consecutive months of declines in retail sales, the longest stretch on record (i.e., since 1992). The year-on-year fall in retail sales is approaching 10% - the largest since at least 1996.
Headline Indices
Total volume traded in the 30 components of the index was 1.45bn shares. None of the 30 index components rose today: 30 stocks within the index fell, with downside volume of 1.45bn shares. The main decliners (in percentage terms) were -
- Citigroup (C) -1.37 (23.2%) to $4.53 on volume of 510.77m shares;
- American Express (AXP) -1.16 (6.1%) to $17.83 on volume of 16.67m shares;
- AIG (AIG) -0.09 (5.7%) to $1.49 on volume of 30.59m shares;
- General Electric (GE) -0.83 (5.6%) to $14.11 on volume of 100.32m shares; and
- Alcoa (AA) -0.52 (5.4%) to $9.03 on volume of 33.12m shares.
The S&P500 index (SPX) dipped 29.17 points (3.35%) to 842.62 points. Total volume traded in the 500 components of the index was 4.38bn shares. Decliners outpaced gainers by 21.9 to one, with 460 decliners to 21 advancers. Declining volume was greater than advancing volume by 4.2bn to 127.78m shares. The main decliners (in percentage terms) were -
- Citigroup Inc. (C) -1.37 (23.2%) to $4.53 on volume of 510.77m shares;
- MGIC Investment (MTG) -0.56 (16.5%) to $2.84 on volume of 2.32m shares;
- Huntington Bancshares (HBAN) -0.96 (16.2%) to $4.95 on volume of 22.65m shares;
- CIT Group (CIT) -0.57 (14.8%) to $3.27 on volume of 8.51m shares; and
- JDS Uniphase Corp. (JDSU) -0.61 (14%) to $3.76 on volume of 5.02m shares.
The Nasdaq Composite lost 56.82 points (3.67%) to 1489.64 points, while the Nasdaq100 slid 39.23 points (3.26%) to 1163.42 points. Total volume traded in the 100 components of the Nasdaq100 was 871.79m shares. Decliners outpaced gainers by 13 to one, with 91 decliners to 7 advancers. Declining volume was greater than advancing volume by 825.68m to 46.12m shares. The main decliners (in percentage terms) were -
- Level 3 Communications (LVLT) -0.15 (12.2%) to $1.08 on volume of 16.69m shares;
- Lamar Advertising (LAMR) -1.54 (11.4%) to $12.01 on volume of 1.79m shares;
- Steel Dynamics (STLD) -1.17 (9.9%) to $10.62 on volume of 5.51m shares;
- Sirius Satellite Radio (SIRI) -0.0125 (9.4%) to $0.12 on volume of 38.34m shares; and
- Foster Wheeler (FWLT) -2.26 (9%) to $22.78 on volume of 4.16m shares.
Volatility
The CBOE Volatility Index added 5.87 points (13.57%) to 49.14 points. and the CBOE Nasdaq100 Volatility Index advanced 4.69 points (10.88%) to 47.80 points..
Breadth and Internals
A total of 3874 issues traded today on the NYSE; 486 stocks posted gains for the day, and there were 3330 losers. 13 stocks made new 1-year highs on the NYSE, while 98 shares plumbed new 52-week depths.
On the Nasdaq 2914 tickers traded today; total Nasdaq volume was 1.92bn shares. A total of 513 stocks posted gains for the day, with aggregate volume of just 140 million shares changing hands in the day's winners. The red zone of the Nasdaq exchange comprised 2287 losers, and total declining volume was 1.77bn shares. 2 Nasdaq-listed stocks hit new 52-week highs, while 80 shares dipped to new 1-year lows.
| Major Market Statistics | |||
| Index | Close | Gain(Loss) | % |
| Dow Jones Industrial Average | 8200.14 | -248.42 | -2.94% |
| S&P500 Index | 842.62 | -29.17 | -3.35% |
| Nasdaq Composite | 1489.64 | -56.82 | -3.67% |
| Nasdaq100 | 1163.42 | -39.23 | -3.26% |
| CBOE Volatility Index | 49.14 | +5.87 | 13.57% |
| CBOE Nasdaq100 Volatility Index | 47.80 | +4.69 | 10.88% |
No Dow components rose
.Dow Duds:
- Citigroup (C) -1.37 (23.2%) to $4.53 on volume of 510.9m units
- American Express (AXP) -1.16 (6.1%) to $17.83 on volume of 16.7m units
- General Electric (GE) -0.83 (5.6%) to $14.11 on volume of 100.4m units
- Alcoa (AA) -0.52 (5.4%) to $9.03 on volume of 33.1m units
- Du Pont (DD) -1.33 (5.3%) to $23.88 on volume of 11.5m units
Most Traded Dow stocks:
- Citigroup (C) --1.37 (23.2%) to $4.53 on volume of 510.9m units
- Bank Of America (BAC) --0.45 (4.2%) to $10.2 on volume of 163.4m units
- General Electric (GE) --0.83 (5.6%) to $14.11 on volume of 100.4m units
- Microsoft (MSFT) --0.73 (3.7%) to $19.09 on volume of 79.2m units
- JPMorganChase (JPM) --0.44 (1.7%) to $25.91 on volume of 73.3m units
Precious Metals
The Gold Bugs index (XAU) dropped -5.51 points (5.02%) to 104.25 points. Total volume traded in the 16 components of the index was 134.86m shares. None of the 16 index components rose today: 16 stocks within the index fell, with downside volume of 134.86m shares. The main decliners (in percentage terms) were -
- Coeur d'Alene (CDE) -0.11 (12.8%) to $0.75 on volume of 7.81m shares;
- Freeport McMoran (FCX) -2.77 (10.7%) to $23.03 on volume of 33.23m shares;
- Pan-American Silver (PAAS) -1.47 (9.5%) to $14.07 on volume of 1.76m shares;
- Silver Wheaton (SLW) -0.42 (7.3%) to $5.31 on volume of 8.11m shares; and
- Yamana Gold (AUY) -0.45 (7%) to $6.01 on volume of 19.22m shares.
Energy Complex
The Oil Services index (OSX) lost -7.84 points (6.19%) to 118.9 points. Total volume traded in the 15 components of the index was 102.15m shares. Decliners outpaced gainers by 14 to one, with 14 decliners to 1 advancers. Declining volume was greater than advancing volume by 101.04m to 1.12m shares. The main decliners (in percentage terms) were -
- National Oilwell Varco (NOV) -2.43 (9.2%) to $24.03 on volume of 7.78m shares;
- Nabors Industries (NBR) -1.06 (9%) to $10.78 on volume of 7.34m shares;
- Weatherford International (WFT) -1.02 (8.3%) to $11.23 on volume of 13.53m shares;
- Rowan Co (RDC) -1.17 (7.6%) to $14.26 on volume of 3.42m shares; and
- Cameron International (CAM) -1.54 (6.8%) to $21.24 on volume of 3.64m shares.
Bellwethers
The nine-stock group that makes up the Rant bellwethers declined on average by 6.4%. The fallout occurred as follows:
- General Electric (GE) -0.83 (5.56%) to $14.11 on volume of 100.36m units.
- Citigroup (C) -1.37 (23.22%) to $4.53 on volume of 510.88m units.
- Wal-Mart (WMT) -0.56 (1.07%) to $51.56 on volume of 20.27m units.
- IBM (IBM) -2.15 (2.52%) to $83.19 on volume of 9.35m units.
- Intel (INTC) -0.59 (4.32%) to $13.08 on volume of 68.73m units.
- Cisco Systems (CSCO) -0.71 (4.32%) to $15.74 on volume of 49.38m units.
- Google (GOOG) -13.35 (4.25%) to $300.97 on volume of 5.42m units.
- Fannie Mae (FNM) -0.05 (6.76%) to $0.69 on volume of 10.64m units.
- Freddie Mac (FRE) -0.04 (5.41%) to $0.70 on volume of 6.54m units.
Other Indices of Interest...
The Banks index (BKX) declined 2.3 points (6.04%) to 35.8 points. Total volume traded in the 24 components of the index was 961.51m shares. None of the 24 index components rose today: the main decliners (in percentage terms) were -
- Citigroup Inc (C) -1.37 (23.2%) to $4.53 on volume of 510.77m shares;
- Huntington Bancshares (HBAN) -0.96 (16.2%) to $4.95 on volume of 22.65m shares;
- Capital One Financial (COF) -2.36 (8.4%) to $25.58 on volume of 10.74m shares;
- Fifth Third Bancorp (FITB) -0.52 (7.7%) to $6.27 on volume of 13.72m shares; and
- Bank Of NY Mellon (BK) -1.88 (7.4%) to $23.38 on volume of 10.52m shares.
The Semiconductor index (SOX) fell -8.78 points (4.17%) to 202.01 points. Total volume traded in the 18 components of the index was 217.54m shares. None of the 18 index components rose today: the main decliners (in percentage terms) were -
- Advanced Micro Devices (AMD) -0.23 (9.7%) to $2.15 on volume of 14.75m shares;
- Micron Technology (MU) -0.22 (7%) to $2.93 on volume of 16.93m shares;
- Sandisk (SNDK) -0.72 (6.2%) to $10.82 on volume of 6.87m shares;
- Texas Instruments (TXN) -0.74 (5%) to $14.1 on volume of 15.82m shares; and
- ST Microelectronic (STM) -0.3 (4.9%) to $5.88 on volume of 1.59m shares.
The ChildKiller ("Defence") index (DFX) fell -7.09 points (2.75%) to 251.04 points. Total volume traded in the 17 components of the index was 136.53m shares. Decliners outpaced gainers by 15 to one, with 15 decliners to 1 advancer. Declining volume was greater than advancing volume by 130.22m to 6.31m shares. The main decliners (in percentage terms) were -
- Gencorp (GY) -0.21 (6.5%) to $3 on volume of 0.25m shares;
- Esterline Tech (ESL) -2.11 (5.6%) to $35.24 on volume of 0.17m shares;
- General Electric (GE) -0.83 (5.6%) to $14.11 on volume of 100.32m shares;
- Teledyne Tech (TDY) -2.09 (5.3%) to $37.56 on volume of 0.4m shares; and
- Embraer Empresa (ERJ) -0.91 (5.2%) to $16.59 on volume of 0.47m shares.
