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Stock Selling Could Reverse Course as Volume Slows

Stocks are seeing selling in sectors like utilities and financials. Jon Corpina of Meridian Equity Partners points out that the selling is healthy in a market that has run so high. He did note that on these pullback days, buyers tend to step in as soon as the sellers become exhausted. Traders have been watching for the volume to ease up during those days and then begin buying. He isn't surprised to see utilities get sold since the group has delivered such strong performance for the year and it makes sense to take some profits and wait for a better entry level to make fresh investments.