Will October Be a Bear Killer?-Minyanville

Will October Be a Bear Killer?

Prieur du Plessis Oct 14, 2008 9:30 am


		Continued improvement could mean lows are in.

My first day back in the office after a visit to Geneva and Dublin coincided with the best day ever for European stock markets and the biggest points increase in the Dow Jones Industrial Average’s history. A pattern has started developing that the good days occur when I am in the office, whereas the sharp sell-offs tend to happen when I am traveling. I will keep you posted on my travel plans in case you want to factor that into your trading models!

The table below shows yesterday’s strong movements on a number of global stock markets.

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Source: Plexus Asset Management (based on data from I-Net Bridge)

The sheer magnitude of yesterday’s rally makes for interesting reading when put in historical context. Considering the entire history of the Dow Jones Industrial Average since 1986, yesterday’s surge of 936 points ranks as the largest points increase ever (see top table).

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Seven of the top 15 points increases have occurred in 2008 (one in October, three in September, one in April and two in March).


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Dan Conine

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10-14-2008, 10:34 am
The most comparable gain was in 1929: high overall index with a huge one day gain. That doesn't bode well. Read up on Lewis and Clark's expedition and how hard it was to kill a grizzly. Read More


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