The day after Armageddon for stocks

Now, a day after Armageddon, and the first time the DOW closed down more than 300 points for 3 days in a row, futures are up big time. This is a zig zag stock market. A bunch of people will buy today thinking we’ve hit the bottom, but a new sell off is likely on the way (and could happen today). If for no other reason, there are more companies at 52 week lows (as a percentage of the total stock market), than ever before. Being at a 52-week low usually spells trouble for a stock at least for a few months. We will see.

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