Yesterday evening I listened to one of Wall Street’s finest proclaim that he was recommending a move to the sidelines until well into October – for no other reason than September being historically the worst month for stocks. This brought to mind a coupleshould-we-sell-everything-now-and-get-back-in-in-October calls I received last year.
Again, the guru offered nothing, in fact expressed his cluelessness, with regard to the cause of this September phenomenon…So in essence, while the “experts” tend to be so quick to join the it’s-different-this-time chorus when things go south, they’ll resort to it’s-the-same-this-time to justify a market call… Huh…
By the way, August 2010, using the Dow, delivered a whopping 4.49% hit to the market…Ironically August 2011, dealt a virtually matching 4.36% blow… September 2010 saw a sharp 7.72% rebound (the “experts” were stunned)…
I predict September 2011 will indeed see the market rebound, decline further or stay roughly where it is right now… And you can quote me on that…