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Stocks gave back Tuesday's gains on Wednesday and the bulls have not been able to put together two consecutive positive days for stocks since February 11th and 12th - a month ago. The Dow lost 1465-points on the day and the S&P 500 gave up 140-points after Tuesday's 136-point gain, while the Nasdaq gave up all but 2 points of Tuesday's 394 point gain.

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Stocks opened higher, and closed near the highs, but in between the bears did a little work of their own. However the bulls came away with a much needed victory on Turnaround Tuesday to stop the bleeding after three consecutive awful days for stocks. The Dow gained 1167-points, well short of Monday's 2000+ point loss, but the bulls needed to start somewhere. While the bears may eventually be back to test those lows, the bulls are looking for a sustainable relief rally.

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The worst fears came to fruition yesterday as stocks opened sharply lower to the point where the 7% loss 15-minute trading halt had to be issued. Stocks did stabilize some when they resumed trading but the indices slipped near the close, ending the day near their lows of the day. The Dow lost 2014-points while oil, which was one of the catalysts, declined about 25% - an historic move.

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It's getting difficult to come up with new words to describe this market action. Yes, it happens every year or two historically, but it always seems to take us by surprise when it happens. Because the Dow was near 30,000 at the peak, percentage wise 1000-point moves are not that dramatic but because they are so rare, it has our attention. On Friday the near 900 point loss turned into a 257-point loss with a quick 640-point rally in the final hour of trading. Things are moving quite fast.
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Stocks had a week of volatile oscillation commonly seen after a quick correction period. Indices were mixed in weekly results; large caps (C-fund) were up while small caps (S-fund) were down producing lower lows. The C-fund gained 0.65% for the week but that number is less impressive compared to the 4.6% gain the fund had on Monday alone. It was a record single day point gain for major indices but it was the start of a week of swings and its highs were not challenged much more for the rest of the ...