Market Wrap-Up

The trading day started Monday with news of the already anticipated but still staggering losses at American International Group (AIG) and got worse from there. The Dow plunged 299 points to close at 6763, a 4.2% drop to the worst level since April 1997. To see a complete rundown on Monday s trading session see our market story.

Winners

Betting against the market, especially the financial services sector, was the smart play for ETF investors Monday, with Direxion s leveraged Financial Bear 3X Shares (FAZ) climbing 20% to top high-volume funds. ProShares UltraShort Dow 30 (DXD) rose 8.6%.

Losers

Oil prices plunged nearly 10% Monday as fears of continuing economic weakness pushed bearish traders to discount OPEC plans for production cutbacks. The United States Oil fund (USO) dropped 9.5% and the iPath S&P GSCI Crude Oil Total Return fund (OIL) slipped 9.9%.

The SPDR S&P Metals & Mining ETF (XME) took an 11.2% loss Monday as weak manufacturing forecasts from the Institute for Supply Management foretold falling demand for raw materials.

Monday s Industry Headlines

Trading Desk
The RevenueShares Large Cap fund (RWL) will now trade options on the fund on the Philadelphia Stock Exchange.

Monday s Notebook

Earnings and Conference Calls
ADC, AutoZone, Bank of Montreal, Chico s FAS, Isle of Capri Casinos, Jackson Hewitt Tax Service, Sonic Automotive, Sun Healthcare Group, Verifone Holdings, Virgin Mobile USA

Economic Data
7:45 a.m. ICSC Chain Store Sales
8:55 a.m. Redbook Retail Sales Index
10:00 a.m. Jan. Pending Home Sales
4:30 p.m. API Oil Industry Report
5:00 p.m. ABC/Washington Post Consumer Confidence

A look at how the industry's most popular ETFs did on Monday: