Anyone who is not living in the cave knows the market crashed today for a few minutes and then went back up. The crash was caused by a huge crash in Proctor and Gamble’s(PG) price(24% drop). No one knows what caused the stock to tumble but it caused the whole market to tumble. It might have been a computer crash or it might have been a large short sale by a massive hedge fund or bank. Only time will tell.
I do not normally quote Jim Cramer but he had a great call on PG. Here is Jim Cramer discussing the crash today as it occurred. Watch the video I do not feel the need to add more commentary. Kudos to Cramer.
The Electron Global Fund was up 2% for September, bringing its third-quarter return to -1.7% and its year-to-date return to 8.5%. Meanwhile, the MSCI World Utilities Index was down 7.2% for September, 1.7% for the third quarter and 3.3% year to date. The S&P 500 was down 4.8% for September, up 0.2% for the third Read More