Where's the Massive Sell-Off?http://www.fool.com/investing/general/2013/02/13/wheres-the-massive-sell-off.aspx John Maxfield
February 13, 2013
Some said the Mayan calendar forecast that the world would end on Dec. 21, 2012. Roughly 2,000 years later, in a similarly definitive manner, the chief investment strategist of Raymond James, Jeff Saut, predicted that President Obama's State of the Union address could trigger a massive 5% to 7% sell-off in stocks.
Both predictions now appear to have been the result of miscalculations. With about an hour left in the trading session, the Dow Jones Industrial Average (INDEX: ^DJI) is off by a negligible 64 points, or 0.46%.
What's moving the market today?
And second, the Mortgage Bankers Association published data showing that mortgage applications fell by 6.4% last week compared with the prece