Well, the bears certainly came out swinging today. Not so much in numbers as volume was pretty light but they sure did a job on price. The catalyst would have no doubt have been a weak night on US markets on Friday night when the Dow Jones posted 2.69% decline. Dow futures are down at the time of writing during night trading so it looks like our market has also priced in further declines for the US tonight. The XJO closed 156.2 points or 3.7% lower, as volatility continues to climb once again. No sector was spared with selling across the board – Gold holding up the best, down 0.9%. It looks like the August 9 low may be tested as Europe debt concerns seem to be the market’s achilles heel at the moment. It remains to be seen whether buyers will step up to the plate once again.

Similar stock trading tips:

1. Monday 5th September, 2011
2. Tuesday 12th July, 2011
3. Friday 12th August, 2011