Big Down Day Across the Board

All sectors were down, with energy, materials, and technology the worst performers, as the Dow fell 250 points.  Early in the day, I added Qiagen (QGEN) at 16.96 (it’s high for the day) and BBBY @ 62.74.   As the market plunged, I decided not to make any more purchases today.   Both went against the grain of my usual buys; neither pays a dividend, so the expectation is for price appreciation.

Of course, I am heavily exposed to commodity related stocks and significantly overweight energy and materials.  I have reduced my exposure steadily over the past few weeks, and I don’t expect to continue selling off these sectors, despite the short-term beating they may continue to take.  I think global instability trumps a slowdown; I also think inflation remains more likely than deflation.