WINDERMERE, Fla. ( Stockpickr) -- The U.S. stock market is getting pummeled today as market players fear that the odds of a global recession are now high.
The massive drop in stocks today follows yesterday's deep slide that started after the Fed said that a complete economic recovery was still years away, adding that the U.S. economy has "significant downside risks to the economic outlook, including strains in global financial markets."
The grim view from the Fed has many investors worried that the Fed has fired all of its economic saving bullets. If this is the case, then for the first time in a long time, the Fed might have to just let the chips fall where they may for the U.S. economy. All of the intervention through quantitative easing up to this point has done little to pull us out of a weak economic environment, and it looks like the Fed is coming to grips with this reality.
Related: 5 Trades to Profit From the SelloffAt last check, the Dow Jones Industrial Average was down over 400 points, the S&P 500 was off by 37 points, and the tech-heavy Nasdaq was trending lower by 75 points. On down days like today, I scan the markets for stocks that aren't going down . These counter-trending names are displaying relative strength and frustrating the bears. If the short-sellers can't knock these names down today, then there could be an underlying bid on these stocks that makes them attractive buys. Stocks that aren't going down on a big selloff in the markets could be setting up to trade higher in the near-future. Here's a closer look at some of the stocks that are bucking today's market weakness and trading higher.
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