Market Slips After Rally As Housing Sputters

Financial market report for Thursday January 26, 2012

Charlie Blaine of Market Dispatches reports Stocks slide after flirting with best levels since 2008
Stocks. Reports of weaker-than-expected new-home sales in December (and the worst year on record) and a bump higher of initial jobless claims gave skeptics an opening to sell the market lower.

Bloomberg reports New Home Sales in U.S. Fell in December. Sales of new U.S. homes unexpectedly declined in December for the first time in four months, capping the slowest year on record for builders

Tyler Durden relates Barclays presents the definitive Greek End-Game Scenario decision tree.

The Yahoo Finance Chart of VIXY, and VIXM , shows today’s rise in volatility.  

ETFs falling today included
QABA -3.1%
KRE -2.6%
PSCE -2.4%
ITB -2.0%
XBI -1.1
PKB -1.0%

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