Blame It on Earnings
A weak bounce attempt failed to gain traction, which led to selling stops when the opening lows were breached. Breadth is horrendous with about 770 gainers to 4400 decliners. There are few places to hide, but it's interesting to see recent laggards like Google (GOOG) and Chipotle (CMG) attracting bottom-fishers. Yahoo! (YHOO) is attracting momentum interest for a change, which may be a function of being one of the few good earnings reports.
There's isn't any big mystery about what is affecting this market. Earnings have stunk and guidance has been pitiful. Revenue misses are at exceptionally high levels and the downside guidance exceeds upside guidance significantly....76 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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