Daily market Comments - August 18, 2008  7:19 PM

Well, at least we're all set up for Turnaround Tuesday...

That's about the only positive thing I could think of to say about the market's action today.

It was pretty much all downhill, all day for both the Dow and the Nas. The Dow cratered almost 181 points and the Nas almost 36. But both indexes popped off their lows of the day near the close, so... once again... we're all set for yet another "Turnaround Tuesday."

This extremely frustrating, back-and-forth market action wears on the nerves for sure, but sometimes you have to "grin and bear it", and just grind your way through as the market forms that elusive bottom.

And even in the roughest of markets, there is still plenty of excitement out there if you know where to look.

For instance, just today one of my recent "on deck" RSVP picks - FMD - was up a tidy 71.33%. We'll definitely keep that one on our Holy Grail and ARM Play watch list for Aftershock Action!