The Dow slid to a seven-month low earlier [today] on while the Nasdaq came a mere 58 points of its post-Sept 11 low.
Adding to investor uneasiness was news that a suicide attacker crashed a bomb-laden vehicle into a guard post Friday outside the U.S. Consulate in Karachi, Pakistan. See the full story.
Rickard Dickson, a technical strategist for Hilliard Lyons, noted that Thursday's failed rally attempt showed that there appears to be no bottom in sight -- yet -- for the market.
"The next areas that could provide a possible bottom should be the September lows for the S&P and Nasdaq and around 9,000 for the Dow. Absent any clear-cut evidence the market has bottomed, we would regard any rallies that might develop over the near term as suspect and likely to be short lived," Dickson said.
He's also concerned that small- and mid-cap issues could suffer more serious losses vs. large cap stocks.....