The Dow Leaps, Highfliers Weep

During the month of August, poor action in the Dow Jones Industrial Average covered up strength in a number of momentum stocks such as Facebook (FB), Tesla Motors (TSLA) and LinkedIn (LNKD). Today, just the opposite occurred. Very strong action in the DJIA helped to hide some very poor action under the surface.

Facebook, for example, had its worst day since May, with a loss of more than 4%. Facebook wasn't the only stock that performed counter to the highflying Dow. Apple (AAPL) was hit hard, and a wide variety of high-momentum names pulled back sharply. Overall breadth on the NYSE was almost 2 to 1 positive, while it was close to flat on the Nasdaq. This tells us that technology stocks were the main weak spot today....1112 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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