U.S. Stocks Five-Month Win Streak End Dramatically Today

On the final day of July, U.S. stocks saw an over 300-point selloff on the Dow, a turn that dramatically halted a winning streak that has been going on for five months. Traders seem to believe that there is no one catalyst for the downward move, although the selloff begun early and kept gong right up to the closing bell, bringing the Dow down for 2014 by 0.1%. Some investors say they are heavily concerned that the Federal Reserve may raise interest rates sooner than anticipated. Other seem to think the selloff was as a result of reports on U.S. companies disappointing earnings. What do you think? Will there be a continuing downward trend for the Dow for the rest of the year?

I'm far more of a bottom-up investor. I realize the need for the odd pullback or correction, and even the occasional bear market. Trying to predict these things can be very difficult and haphazard, even foolhardy.

I used yesterday's big selloff as a buying opportunity - I bought a few grand each in US Steel (which I have owned in the past) and Hologic (HOLX).

I am always a little defensive, however. I still have about a dozen or so active fairly longrange put positions, a pretty big short on JCP, and an ETF S&P 500 broad short position, along with a good ~ 20% diversified commodities position and plenty of cash.     

i have bought gold, oil and the canadian dollar. also 25% into my retirement fund weekly.