Walmart Blew Up The Dow Today

The Dow  dropped 157.14 points, or 0.9% to 16924.75. The S&P lost 9.45 points, or 0.5% to 1994.24. The Nasdaq  fell 13.76, or 0.3%, to 4782.85.

Wal-Mart (WMT) shares tumbled 10.04%, or $6.70 , the lowest closing price since May 2012  after very bad guidance.

Retail has been a disaster, so much for those cheap gas prices driving people to spend. Aint happening. Other retailers that got creamed were TGT -3.3%, DGN -4.2%, BBY -6.6%, Stay away FAR away.

NFLX imploded after the close, BUT is now even in the aftermarket. Cant keep that sock down. Glad I canceled the trade though, we’ll get another bite at the apple.

The 10 year note broke 2% level today telling me there is a flight to safety going on.  Not good for stocks.

So lets review shall we??????? Banks cant earn, retail is blowing up because the consumer isn’t spending, crude is heading back down and energy is still horrible.  Apple looks heavy and tech is doing nothing.

I added UVXY long to the P&L today.

Glad we’re short. See you in the morning.