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Room for another ‘violent move’ either direction by stocks: trader

Stocks could see a big move up or down before the closing bell Friday, said Stephen Guilfoyle, managing director of NYSE floor operations for Deep Value Execution Services. The S&P 500 broke through important technical support at the August low near 1,867 Friday and then proceeded to dive through the next important support level at 1,862, but the selloff “failed to go into beast mode,” Guilfoyle said in emailed comments. Noting that stocks were well off the lows, Guilfoyle said there could be another “violent move before this day ends. Neither direction would surprise me.” The S&P 500 was down 54 points, or 2.8%, at 1,868 in recent trade after sinking to a 15-month low at 1,854.42. The Dow industrials are down 431 points, or 2.6%, at 15,951, after earlier losing more than 500 points.

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Room for another ‘violent move’ either direction by stocks: trader Reviewed by on . Stocks could see a big move up or down before the closing bell Friday, said Stephen Guilfoyle, managing director of NYSE floor operations for Deep Value Executi Stocks could see a big move up or down before the closing bell Friday, said Stephen Guilfoyle, managing director of NYSE floor operations for Deep Value Executi Rating:
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