Broken Stocks surged Wednesday, breaking a string of six consecutive hump-day losses. Once again, I find myself writing about an ugly Wednesday selloff. A persuasive argument to buy was absent in Wednesday's market. After a two-year hiatus, your time has finally arrived. Even the comparatively stable big cap techs fell with a thud in today's selloff.
Some days are diamond, some days are stone.
Wednesday, the 'old economy' stocks fell victim to profit taking while tech stocks returned to business as usual. The blue chips rebounded Monday in a lifeless sort of way. The Nasdaq succumbed to reality Wednesday, if only for a day. Earnings season is a game. Trust busters are talking of breaking up Microsoft.