Friday, October 19, 2012

25 Year Anniversary of Stock Market Crash: Dow Drops 205 NASDAQ Drops 67

Today is the 25th Anniversary of the 1987 stock market crash. Is today a repeat of history. At least today's drop wasn't as bad. The Dow Jones Industrial Average tanked by 205 points or 1.5% and the NASDAQ went down by 67 points or about 2.2%. This is the biggest drop in about four months.

Did anyone read the article from Sunday, October 14, on How to Speculate on a Market Drop Without Options or Shorting? The article described the Daily S&P 500 Bear 3X Shares ETF (SPXS), which was up 5.1% today. The Direxion Daily Energy Bear 3X Shares (ERY) was up 4.5% today.

As for the popular stocks, Google was down 74 points in the last two days due to missing estimates on revenues and a substantial drop in earnings per share. Apple (AAPL) fell over 22 points today. Chipotle Mexican Grill, Inc. (CMG) was off by about 43 points, or 15%.

Disclosure: Author owns AAPL.


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