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Stock Market Drop

by @ 10:32 pm
Filed under: financial — Tags: , ,

As I saw the market take a deep dive around 2:30 today my reaction was a mixture of fear and excitement. I'd never seen anything like this before. I saw Apple's stock take a nosedive to under $200 in a matter of minutes. There were red figures everywhere, almost as if a child was commandeering the market.

By the time the Dow had plunged by near a 1,000 points, I knew this was an irrational panic and that we would see a snap back. It happened fast. In just a few minutes the DJIA recovered 600 points in the wildest whipsaw I'd ever seen. Now I don't play the market as I once did. Too bad, I could have made a killing today playing a few option contracts - Could have, should have, would have.

Then again, if I had acted on my own feelings on Apple a couple of weeks ago, I'd be reaping some decent profits today anyways. But it doesn't matter, with the stock market there's always another day and another chance. Although we may not see volatility like this again for quite some time.

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