It is always good to remember that just because stocks trade at intraday lows, it doesn’t mean that they are going to stay that way or that they are going to roll over and die.  This VIX ramping over 30 yesterday at the end of the day and staying there is going to end up being an Omen or something that gets the market closer to an inflection point.  That may only be a temporary event, but that is what history has dictated time after time. Time will be the verdict, and fortunately summer trading will be back to normal in just over two weeks.  Maybe just printing this list will be that catalyst, but it still feels like it is too soon to try to be a hero.  Here is the opening list of some key stocks that hit 52-week lows after opening:

Wal-Mart (WMT) sub-$43.00… old low $43.09

Home Depot (HD) $32.96…. old low $33.08

Amgen (AMGN) $49.60… old low $49.71

Countrywide Financial (CFC) $17.27… old low $19.25

Advanced Micro Devices Inc. (AMD)… old low $11.85

International Paper (IP) $31.55… old low $31.77

Motorola (MOT) $15.95… old low $16.01

USG Corp. (USG) $36.15… old low $36.28

Jon C. Ogg
August 16, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers. 

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