The Alfred E. Neuman Stock Market - Benzinga
How does one sum up the wildest 15 minutes of trading and a session that should rank as one of the craziest in the history of Wall Street. Black Monday, Part Deux The Dow Jones erased most of its historic 1,000-point plunge off the opening bell, as it traded lower by roughly 200 points at the time this article was written. During the collapse, several large-cap issues traded down to levels not seen in years and may not be revisited for a long time, if ever. The overall market's dependence on high-frequency traders as a substitute for market-makers lead to a scenario where there were simply no bids. (NYSE: PEP ) swooned from Friday's close ($96. 25) all the way to $76. 48 before recovering to north of $90. Normally slow-moving Ford Motor Company (NYSE: F ) declined from Friday's close ($13. 86) to $10. 44 before rebounding as high as $13. 47.... CVS Health Corp (NYSE: CVS ) fell over $20 from $102. 21 to $81. 37, or 20 percent before rebounding back over $100. Related Link: 3 Reasons You Should Panic Right Now. So, why was Alfred not worried about the world caving in. He may have been raising some cash during the markets six-year bull run and, despite missing out on some upside, was ready to put some cash to work. Source: www.benzinga.com
