What a vicious and crushing few days for the market with overpriced NASDAQ stocks taking the brunt of this rapid sell off. Quite a few stocks took discounts of 15 to 40 percent over the past month with most of that damage happening this last week. Meanwhile cash is hiding in large cap stocks similar to what we saw in early 2008 prior to the big crash that ran from October 2008 through March 2009. However I highly doubt we will see a sell off of that magnitude.
Let’s move on to the leading averages that are faring much better than most stocks that we track here.