Thursday, October 1, 2009

Intraday action

The Dow is at its lows of the day, below yesterday morning's PMI-related tank. The index is off 1.4%, with 28 of the 30 names in the red.

I'm not going to cite higher jobless claims or any other metric for the decline, because this market could turn around and head higher in a heartbeat, numbers be damned.

So many stocks are down today that only two made my "gainers" screen. Among losers, UAL (UAUA) is down after announcing equity and debt offerings, and Penske Auto Group (PAG) is lower after a deal to buy Saturn from GM fell apart.

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