Funny but I was typing "nice little spike in the fear index there" and you the main bull was simultaneously typing it. Love it love it love it. HA!!!
The fact that more selling came in after 10:15 is significant it means more sell orders coming across the desk thatn dip buying. Sayonara to the 1200's in the Spoos.
Anyone buying the dip should buy beat up stocks with good fundamentals: JOYG, FCX, AMD, MAC (not so beat up), JPM, GS, BP. (not a recommendation to buy or sell securities ...)