Seeking Alpha Seeking Alpha Portfolio App for iPad  The Gist
The market sold off 2% Wednesday with the Dow down 300 points
posting the biggest single day drop in months. I posit the
market had a broad based sell off for several different reasons.
First, Obama won the election so bank and energy stocks sold off
based on the perception that these sectors will continue to be
overregulated. Second, European Central Bank President Mario
Draghi said Wednesday morning risks to the Eurozone economy are
on the downside. Third, Apple (AAPL) is dragging down the tech
sector by officially hitting correction territory. Apple is down
20% from its near-term high of just over $700. Couple these
concerns with the fact that the fiscal cliff is approaching
rapidly and you have a recipe for a broad based market meltdown.
Pervasive cynicism about a stock or sector can drive the price
so low that it exaggerates the investment's perils and belittles
its future prospects. Identifying and seizing on these
opportunities is a well-kn