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-- July 15, 2002
The Dow plunged over 400 points today before ending down about 50 points. It was the sixth consecutive day of declines for the index -- last week was the worst trading week for the index in 10 months. And judging by today's action, that record could be broken again this week!
This is only the beginning of the Dow's sell-off. Today, the Dow skimmed its post-September 11th lows, and bounced back. But it won't be long before the Dow smashes through those levels on its way to 5,000. Over and over again, we've seen the Dow test resistance levels and recover, only to plunge through them days later. And that's what's happening right now.
As the crisis of confidence in Wall Street grows, there will be fewer and fewer investors willing to step into the market. And as that happens, you're likely to see a series of days where the Dow closes down 400 points or more.
Stocks Storm Back