The NDX 100 experienced a 1.70% sellof closing near the lows of the session, thus we believe we are at the beginning of long-awaited correction. The Vix indicator jumped but it is still far from “fear territory” confirming our “market correction view”. Dan Seiver mentioned on CNBC: “Right now, that number is relatively low. It’s down in the range that it was in 2007. That tells me that over the next few years, the returns on stocks aren’t going to be particularly good and they could even be negative.” On the corporate front, the world´s biggest retailer Wall Mart reported an unexpected second-quarter decline in its U.S. chain’s comparable store sales and cut both its profit and sales outlook for the year.
Today´s Profit USD 362 (Portfolio Size: USD 25,000)
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