Tuesday, October 07, 2008

Green Monday?

Monday saw a huge ripple in the fabric of the finance world, with our Canadian S&P/TSX dropping 11% and the US Dow Jones Industrial Average dropping 7.7%, before both finally pared the losses late in the day, to 5.3% and 3.6% respectively.

AAPL also dropped severely to $87.54 (almost 10%). I just about pulled the buy trigger yet again, but ultimately held off this time. To everyone's surprise, it later rallied so much that it actually ended up $1.07 at $98.14, for a gain of over 1% for the day.

Earlier in the day, some in the media were already calling this Black Monday, but it certainly didn't work out that way for AAPL. Perhaps a few of the supposed short sellers that Steve Jobs blamed are finally getting spooked enough to leave AAPL alone.

P.S. For some reason, the iPhone stock quote gadget has the wrong percentage drop for the TSX and the S&P 500.

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