The selloff is reaching all ends of the markets now, even the hottest of names are selling off in a big way this morning. This morning has seen heavy volume and some previously loved stocks being thrown out the window. Crocs Inc. 
(NASDAQ: CROX) has been down by as much as 9% this morning, Garmin Ltd (NASDAQ: GRMN) by as much as 5% and Apple, Inc. (NASDAQ: AAPL) down by as much as 7%. This is a very interesting development in my opinion because it is the sign of some panic setting into the market.
We have reached the point where the strong growth stocks are no likely a safe haven. The only type of stocks holding up today are the consumer goods stocks. For example The Proctor and Gamble Company (NYSE: PG) is up over 1.5%, and The Coca Cola Company (NYSE: KO) is up nearly 1%.
The more panic selling we see the better off we will be in our search of finding a bottom for this market. I would really like to see a day where we selloff on massive volume and then turn the markets around toward the end of the day. That type of day could be a signal of a short-term bottom. The market action the rest of today will be very interesting. It will be interesting to see if the bulls show any fight today, given that this would be the sixth straight down day for the market.
I think that this day will be very volatile for all the major indices. If you are the type that thinks this could be just the start of a bear market, you might want to view our past article on tools for protection in a bear market. Be on the lookout for the action of this market over the next few days. Look for further pessimism in the markets with people feeling there is no place to hide. The volatility is showing no signs of letting up anytime soon!
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