Yes, it is a true selling day. This means it is tome to exit some of the positions. If you own 4 stocks get out of the worst performing stock. If we see another one in the next 2 days, get out of another 2 and so on. Personally, I thnk it is just a pullback because usually the Nasdaq declines more than 2% when the S&P and DOW are down more than 1%. On other note CMGI looked pretty strong. It was holding up all day but gave up towards the end. If the market rebounds in the coming days we'll probably see CMGI run up fast.