BRexit #2

10006628_439440559519160_648722796_nWhat a weekend. Some people see this sell-off as Armageddon and others look for buying opportunities. If you think about it, this is a mild downturn. It's nowhere close to other sell-offs. Yes, I didn't think it would go down this much. I personally think the news is good—man yearns to be free, and it's in this financial yearning that real earnings begin.

I expected the Dow (DJIA) to go down to 17,400. If it hit 17,200, or so I thought, it would find support. That has pretty much happened, though for much of today, it's been slightly under that.

Oil stocks are down, gold stocks are up slightly. The stocks taking the biggest hits are in the financial arena—especially if they are banks and more especially if they have dealings with England and Europe.

For these bottom fishing purposes look at SAN, RBS, BCS, and here at home BAC.

Stock MarketWade Cook