Stocks continue their declining ways. Dow is down 134, decliners over advancers 2-1 & NAZ down 24. It looks like Dow will be testing lows of 11½K from Jan. From the present level this would suggest another 5% drop just for testing. Ben Bernanke, FED Chairman, in a speech in FL said more needs to be done to to prevent home foreclosures. Banks are leading today's market decline.
Staples (SPLS), down 56¢, reported lower earnings & reduced forecast for 2008. The markets keep drifting down based on these company reports, expect more of the same.
No comments:
Post a Comment