S&P 500 Plunges -1.42%

Today was a rough day for Wall Street. The S&P 500 lost -1.42%. That’s it’s biggest drop since February 8. In the Dow, only Boeing was up. The 29 others were down.

Today was particularly hard for tech. The tech sector lost 2.19%. Facebook was the big loser with a loss of close to 7%. The defensive sectors fared much better. In fact, in terms of relative strength, this was an outstanding day for our Buy List. We beat the S&P 500 by 68 basis points today. Hormel, Smucker, C&D, Ross Stores, ADS and Carriage were up for the day.

Today was a classic countertrend day. A lot of the high-beta, high volatility names that had been doing well got hit hard. On the other side, many of the lagging names did OK.

Posted by on March 19th, 2018 at 5:44 pm


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