Well, I guess my theory that fund managers may make a dash for the exit appears to be taking shape, as the markets are selling off hard as we approach mid-afternoon. Let's take a look at where the action is.
are up nicely on their results.
: Stem-cell play signs a deal with GE Healthcare.
Research in Motion
are seeing some green, stemming positive Wall Street analyst actions this morning.
: On the back of a
earnings miss this morning, we are seeing other commodity plays like
: Most of the sector is in the red, even names like
: Key sector is pulling back as rail and trucking plays take a hit.
was also downgraded.
is trading lower and that is dragging shares of
shares nearly 3.5% lower.
: Prices are trading near the lows of the day.
were weaker earlier, but have almost bounced back to even for the day.
Some of the early plays I highlighted in my Morning Playbook are the tells we had been expecting. I told investors to watch
as well as its competitor
for an early pop, which we got. The selling in Schnitzer was a heads up for someone looking to add some short bias to the trading portfolio.
I am not sure how much more selling we get today, but if you are heavy on long positions, you want to keep those stops in firmly.
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At the time of publication, the author had no positions in stocks mentioned, although positions may change at any time.
Tom Reese and Paul Rubillo are senior editors of Dividend.com. Visit Dividend.com for more dividend stock ratings, picks, news, and analysis for long-term and income-seeking investors.