Building a Wall of European Worry

We can sum up the action today in one word: dismal. We gapped down to start the day on worries that Europe really hasn't resolved anything, and we had nothing but the standard bounce in the final hour of trading on European news. This time it was talk from the German Finance Minister that Commerzbank does not plan to take state aid.

The dip-buyers were completely uninterested for most of the day, breadth was weak and volume was pathetic.  We even had an earnings warning from Intel (INTC) to ensure that the mood was particularly gloomy....226 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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