…Earnings season onslaught just can’t beat year ago numbers. Chip stocks hit hard. Averages take big hit but rebound slightly. Saudis killed a journalist in Istanbul; now we see the cover-up. DOW – 125 = 25,191 SPX – 15 = 2740 NAS – 31 = 7437 RUT – 12 = 1536 10 Y – .03 = 3.17% OIL – 3.27 = 66.09 GOLD + 8.20 = 1230.90   The good news is that it wasn’t worse. The Dow Industrial Average was down about 550 points in early trade before a recovery, of sorts. The S&P 500 Index dropped below the October lows – also taking out the 200-day moving average – and matching the lows from July. We have not seen any really panicked selling. Today stocks moved lower, offering plenty of opportunity for a freak out but now, stocks did not freak of panic. Each of the big three U.S. benchmark indexes briefly undercut the October low early Tuesday — tagging multi-month lows — as the markets continue to seek a durable floor. And while stocks did recover from session lows, it was only after the damage was done; after the markets established new, lower levels of support. For now we have a very wide trading range, which would indicate more volatility ahead. And for Dow Theorists who have opened up their charts, you will notice an October breakdown in the Transports. The idea behind the Dow Theory is that when either industrial or transportation stocks make new highs, ...