Just to project a positive attitude (because no one likes whines, right?) , I shall say that if the selloff continues, investing public will feel like a fat girl in a chocolate store (Myers of Keswick in Manhattan maybe?) and that will spark another rally (no surprise, you can get European chocolates there). Speaking of Europe, I should pitch at least some stocks: Santader Bank (STD), with its MASSIVE exposure to Brazil and National Bank of Greece (NBG) with its 50 percent revenues coming of its Turkish operations should really not have dropped 40-50 percent in the past few weeks, should they have? STRONG BUY, in my humble opinion:)
For some people, just to see HOW BAD the drop was....
Below are the biggest closing point drops in the history of the Dow Jones Industrial Average.
Date | Close | Points/% |
9/29/2008 | 10365.45 | -777.68/-6.98% |
10/15/2008 | 8577.91 | -733.08/-7.87% |
9/17/2001 | 8920.70 | -684.81/-7.13% |
12/1/2008 | 8149.09 | -679.95/-7.70% |
10/9/2008 | 8579.19 | -678.91/-7.33 |
Source: WSJ Markets Data Group
P.S. Totally forgot to mention technical glitch that triggered the seloff... OOPSS.....