1:15pm (EST)

The bears are trying to get on the scoreboard after yielding points to the bulls for 3-straight sessions.  Much of today’s action can be blamed on concerns over China’s economy slowing as some are saying and some of the mining stocks such as BHP Billiton (BHP, $72.77, down $2.74) are reporting iron ore demand is weakening. 

Economic news here at home came in mixed which has contributed to today’s slide.  Housing Starts fell 1.1% during the month of February versus estimates for a 0.1% increase.  Meanwhile, Building Permits jumped 5.1% versus expectations for a pop of 0.6%.  This week’s economic data is all about the Housing sector and KB Home (KBH, $11.60, down $0.29) will end the week by briefing Wall Street with its latest earnings on Friday morning.   

Disney (DIS, $43.29, down $0.15) is weighing on the blue-chips after saying it will take a $200 million hit due to poor sales for its “John Carter” movie.  We haven’t seen the flick but the trailers weren’t that compelling and there was no buzz building up to the release of the movie.  Usually when you spend a quarter-billion dollars on a film, it better be a hit.  In Disney’s case and for its unproven director, JC has quickly become a major flop.  The expected loss was way worse than the $120-$160 million forecast.

The good news for Disney down the road is that “Avengers” and Pixar’s “Brave” could become blockbusters.  However, you don’t buy Disney’s stock based on movie hits.  We would buy the stock at current levels for its ESPN division, parks and cruise lines businesses.

As far as the market, the Dow is lower by 70 points to 13,169 while the S&P is off 7 points to 1,403.  The Nasdaq is down 20 points to 3,058.  We have a few trades in play today as some of our Hard Stops are close to being triggered.

We also have a NEW TRADE we are trying to get into so let’s go check the tape.  Subscribers, hit the Members Area for the updates.