This looks to me like retail capitulation. I suspect a lot of 401K holders decided to sell over the weekend.
There are a number of stocks that are starting to look like decent buys. I was getting 3.9% on my portfolio of common, and I’m now getting 4.37%. It would not be difficult to set up a portfolio of decent companies that pays 5% without too much risk. I like CAT, IP, OXY, JPM, and AAPL at these prices.
There are also a number of REITs and preferreds paying more than 6%, and I’m talking good credits with clean balance sheets.
If you have cash to invest, you could do worse.
XOM beginning to look good again, if for nothing more than the dividends.