Whackage! Worst Week Since September 2001

By the numbers, it was not a pretty week:   The Russell 2000 index of small caps got shellacked for over 12%; Nasdaq took a nearly 11% plunge, and the S&P500 dropped 9.4%. The Dow Industrials fared best, losing “only” 7.4%.

As I noted on CNBC yesterday, this is a bear market, and the play book calls for selling into rallies (as opposed to during the Bull, when you buy into dips).

After whatever bounce we end up getting, a measured move to Dow 9,000 is a significant possibility — we put it at a better than even money chance.

 

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via WSJ

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