VIX Pops, Oil Drops

VIX Pops, Oil Drops

1:30pm (EST)

The major indexes are down over 1% today as the effects of Japan’s earthquake and tsunami continue to weigh on Wall Street. The bears have managed to take out last Thursday’s lows and are eyeing the lower level targets we went over this morning. The biggest concern with Japan is their nuclear plant situation which is dealing with problems at three different nuclear plants.

The Dow is down 115 points to 11,929 while the S&P is lower by 14 points and is at 1,290. The Nasdaq is off by 22 points to 2,693.

To read more of our thoughts on the CBOE Market Volatility Index (VIX, 22.65, up 2.57) and First Solar (FSLR, $146.43, up $6.69) click here.

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