Back to material things... (aka how everybull's moneymaker got hmmmm... gangbanged today)

... because on Thursday, May6th,  at 2:47PM, market took the biggest intra-day drop in the history.  Broke 10,000, went further down and came back up.  I, personally, was a little bit baffled to see Apple stock (AAPL) to drop to 200 bucks in minutes. Thankfully, at that time, I got some stuff to do at work. From modest -200 to -300 to -500 to negative WHAT???? 700!!!!, just to momentarily hit almost a negative 1k... not as bad as Greek index, but...  seems like investors finished day more optimistic then they have started it.  Looking at the chart, we see that VXX vs Dow spread at 2PM is actually way wider than a spread just before the market close.



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.....