Why You May Want to Sit Today Out

The overall trend is still up, but it is time to wait, not to act

   

Stocks were lower again yesterday, as investors put the U.S. budget deadline on hold and focused on Europe and the possibility that a bailout there might have to include Italy. The selling was most pronounced in the financial stocks, which fell almost 3%. The Nasdaq lost 2% for its worst day in over a month, and the Russell 2000 was off 2.23%.

In Monday’s