Monday, September 29, 2008

Blood on the Street

Dow down 778 points (6.98%) after House kills the very very bad bill, its 12th worst day in history.
Oct. 19, 1987-22.60
Oct. 28, 1929-12.80
Oct. 29, 1929-11.70
Nov. 6. 1929-9.90
Aug. 12, 1932-8.40
Oct. 26, 1987-8.00
July 21, 1933-7.84
Oct. 18, 1937-7.75
Oct. 5, 1932-7.15
Sept. 24, 1931-7.07
July 20, 1933-7.07
Sept. 29, 2008-6.98

In news unrelated to the bailout bill...

GOOG down $50 (11.6%) to $381, almost 50% down from its all time high last November of $747 and below $400 for the first time in two years.

AAPL down $23 (17.9%) to $105, almost 50% down from its all time high of $203 last December, a 16-month low. This one, I called back in December. It was just too high; it's at a much more reasonable valuation now.

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