Stock Watch 8.11.11. “DOW be Damned”
The market continues it’s wild ride. There is confusion, panic, fear and host of other adjectives that people use to explain what you should have known from common sense. Claude Shannon once said Information is the resolution of uncertainty. If you know what you are doing you shouldn’t panic. On another note Wednesday was the 9th worst point drop in DOW history. August is only 10 days old and already has appeared in the top 10 worst DOW drops in history – twice! Not many months can lay claim to that you know. Wonder if we’ll rewrite that list by September.
Trades $AONE +120 $OXGN +190 $CBOU +110 $SDS -130 $SSO -100 Total +190
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Worst DOW point drops in history.
— Sept. 29, 2008: 777.68 points, or 7 percent
— Oct. 15, 2008: 733.08 points, or 7.9 percent
— Sept. 17, 2001: 684.81 points, or 7.1 percent
— Dec. 1, 2008: 679.95 points, or 7.7 percent
— Oct. 9, 2008: 678.92 points, or 7.3 percent
— Aug. 8, 2011: 634.76 points, or 5.6 percent
— April 14, 2000: 617.78 points, or 5.7 percent
— Oct. 27, 1997: 554.26 points, or 7.2 percent
— Aug. 10, 2011: 519.83 points, or 4.6 percent
— Oct. 22, 2008: 514.45 points, or 5.7 percent
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