In Today's Update:
1) Stocks slipped again today led by Technology shares on a fairly quiet day with volume that was slightly above-average. The Dow Jones Industrial Average dropped 89.44 or 0.35%, the S&P 500 fell 16.34 or 0.59% while the Nasdaq 100 closed lower by 66.15 or 0.88% and the Russell 2000 finished higher by 6.44 or 0.42%.
2) Crude Oil Futures closed slightly higher gaining $0.33 or 0.46% at the official close while Gold Futures jumped another $8.70 or 0.71% after U.S. Retail Sales came in weaker-than-expected causing the U.S. dollar to drift lower. The Bond market was mostly flat and the yield on the 10-year treasury note held steady at 3.156%.
3) Most Traders and Investors have heard the saying "Don't try to catch a falling knife". Well, Sears Holding Corp (SHLD) is a perfect example why. Back in April of 2007 SHLD was a $195.00 stock and today, after filing for chapter 11 bankruptcy protection, its share price is just $0.28. As painful as this may be to experience, it is a lesson worth learning.