The market is getting hit from all angles this morning. First off, you've got two outsider candidates winning in Iowa last night. That brings a lot of potential for change, which the market does not like. Secondly, data came in week this morning. Jobs looked weaker in December, with unemployment making a small jump. Thirdly, Japan fell 4% overnight. The only thing to push stocks upward today is oversold conditions, and I don't think that will do it.
The jobs data troubles me a little, but I'd have to see those numbers continue on this path for a few months before I get too worried.
I'll use this pullback to look for some value in positions that I've wanted to start, but am still somewhat cautious. No point in rushing at this juncture.
Exciting to see things happening in the 2008 race, even if the results rattle the markets a little.
Have a great day!