U.S. stock meltdown on Monday, with the Dow Jones largest decline in more than a month, as concerns about the financial sector continues to haunt investors.

The Dow Jones Industrial Average fell 241.81 points, or 2.1%, to 11,386.25 with all of the Dow’s 30 components finished in the red.

The S&P 500 Index was down 25.36 points, or 2%, to 1,266.84. The Nasdaq Composite Index declined 48.75 points, or 2%, to 2,365.96.

American International Group Inc. down 5.5% after Credit Suisse analysts lowered their third-quarter profit estimate and target price on the insurance giant.

A quick reaction on bearish reversal made on some put purchases on some of stocks that I have been tracking. They have managed to bring in some very good profits yesterday, a total of $600.20 profit in just one day.

The market may remain to be overall bearish for the whole week so I have decided to let it run for the week looking forward to collect more profit when it drop further. On the safe side, all my trades are set a conditional market order as my stop, should any of them decides to move up against my position.

“The time is always right to do the right thing” - Martin Luther King, Jr.

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