RE: Close an open windowButt-ugly day in the markets. Dow dipped below 10,000 on terribly lower than expected existing home sales, and there was poor retail sales data out of Canada.
Yields on Treasuries are at lows not seen since March/April 2009, at the absolute worst time for equities in the recession.
Tough to say where all of this is going to go, but there is a growing level of pessimism in the markets, including at the Fed. There is a growing belief in the possibility of a double-dip recession.
Whether you subscribe to that line of thought or not, be cautious. It's tempting to argue that gold companies are a safe investment in the event of economic hardship, but smallcaps of all stripes really tend to get hit hard.
I'm on the fence as to whether to use this dip to add to my position. It's hard to find ANYTHING positive out of the recent economic data... it's just one log being tossed on the fire after another. :(