Thanks for checking in with us for seven a ton of links at 7AM Eastern.  Good luck out there.

Markets

A rough day indeed, unless you were a bond investor.  (EconomPic Data, Bespoke)

Gold did not serve as a safe haven yesterday.  (WSJ)

Natural resource stocks got crushed yesterday.  (FT)

The stock market has moved quite quickly right to a critical technical level.  (chessNwine)

Barton Biggs got “banged in the face” by the market yesterday.  (Credit Writedowns)

Oversold conditions

Only 23% of NYSE stocks are still above their 200 day moving average.  (@jackdamn)

Stocks still above their 50-day moving averages are few and far between.  (Bespoke)

Some reasons for a rally.  (Capital Observer)

Market timers are once again bearish.  (NAAIM)

We haven’t see this many new lows in two plus years.  (Bespoke)

The historical performance of the S&P 500  post-“crash.”  (Woodshedder)

Strategy

Assigning reasons for big market moves is a fool’s errand.  (Felix Salmon)

Kid Dynamite, “..the selloff isn’t complete until people are done selling.  When people are calling for rallies, they are usually not done selling.”  (Kid Dynamite)

Yesterday was prime example of why stops are your best friend.  (UpsideTrader)

DH, “Do not take risks you cannot afford.”  (Dynamic Hedge)

Only the prepared should trade today.  (StockTwitsFX)

Ideas

There is a whiff of panic in the air.  Time to do less.  (Howard Lindzon)

Need a buy list?  Here are some high yield big cap stocks.  (WSJ)

Underinvested?  Think about selling some puts on some big cap names.  (Investing With Options)

Volatility is going make long-only investing tough in here.  (Castellano)

Economy

Will be interesting to see how focused markets are on this morning’s July employment report.  (Calculated Risk, Money Game)

“Poisonous politics” has helped lead the US back to the edge of a double-dip.  (Economist, Free exchange)

Tim Duy, “The market nosedive does not yet guarantee Fed action in the near future. History has shown the Fed tends to react with a lag. ”  (Economist’s View)

There may still be a Bernanke Put, but the Washington Put is no more.  (Money Game)

In this environment Washington really has only one lever it could push to help create jobs.  (Pragmatic Capitalism)

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