Volatility Set To Pick Up Again

The market has opened on a down note following yesterday's rally. SBUX reported weak comp sales, and the stock is down big (-11%), even though I think it is an overreaction.

MDT issued a profit warning, and that stock is also down -10%. And the retail sales reports that came out this morning were a mixed back, although overall the retail index is trading lower. I'll be back with a highlight of some of the names later.

The 10-year yield is bouncing a bit to 4.98%. Oil and gas are trading lower, which is weighing on the energy stocks. Interestingly, yesterday when the market began to soften it was the energy sector that turned lower first and led the market down.

It is very strange to have the energy sector leading the market. You would think that when energy prices go down, that would benefit the other sectors of the market, for the most part. But such has not been the case with this wacky market.

And when is GOOG going to bottom and pull an AAPL?

long AAPL, GOOG, MDT