Stocks got hit with the ugly stick on Friday after continued worries in Europe led to overnight weakness and then the market got thumped by the horrid jobs report. Gold and treasury bonds were the only bright spots. Did gold just see “THE” low or “a” low? We will tackle this in an upcoming Street$marts.
Stocks should be in the early stages of the bottoming process. It’s too soon to offer how long it lasts, days or weeks. But the market is now stretched to the downside, calls of the end of the bull market are making their way around and investors are becoming overly pessimistic.