The Selloff Gathers Steam

deadbull tbi

What was that we heard yesterday about how the shorts would be “too scared” to hold their positions over a long weekend?

Not so much.

After a big selloff overseas and a notable paucity of green shoots in the monthly unemployment report, it’s the bulls who are cowering ahead of the long weekend. The Dow is off about 160, with the major indices generally falling by around 2%. Oil, meanwhile, is off over $2.

 

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