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Vulnerable as consumers tighten budgets...
Especially notable after discount retailer BIG dropped 20% yesterday (!)
Global equipment makers look terrible: CAT, CMI, JOY, DE, UTX etc
Could be a great short into the gap open.
I would use a stop slightly above the $10 IPO level.
Plenty of IPO investors feel trapped now that stock is below the offering price - and will use this morning's gap to liquidate.
Via Jeffrey Gundlach: Apple vs Google initial trajectory comparo. AAPL in red, GOOG in white. Any questions?
The breakdown continues... Also, GM breaking lower and GT says volume will be weak.
Speeding COP car spins out of control, smashes into Shady Acres Retirement Home - more at 11