With the Dow Jones slipping 1.6 percent (^DJI), the S&P 500 diving 2 percent (^GSPC) and the Nasdaq sliding 3 percent (^IXIC) yesterday, investors were hoping for better news today to end the skid. They can keep hoping. The slaughter continues, with all three major U.S. indexes underwater again today. But the sector that’s been bleeding the most lately — biotech — is showing some intestinal fortitude, as the Nasdaq biotech index (^NBI) is up more than a percent, as of midday. But who knows how long that will last, or how much lower the major indexes will go if we see — as expected — a string of earnings disappointments for Q114? We could be looking at an extended swoon. Time to keep your powder dry.
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
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Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: