Following 4 straight months of gains, the SPY stands to lose about (BRACE YOURSELVES) 1.9% in the month of October. It feels much more than that because we relinquished gains and the tech heavy NASCRAP is off by almost 5%.
For me, October was a catastrophe, halving my annual gains thanks to gross stupidity.
Last year the market did very little in the months of November and December, basically trading flat.
I bring bad news for you market players out there.
This will be the 3rd worst October since 1999. The only other years when the NASDAQ traded off by more than 4% was in 2000 and 2008. Generally speaking, October is a very good month for stocks. In those down years of 2000 and 2008, the next month the market was destroyed, trading off by 22.9% and 11.4% respectively.
Of course circumstances were unique, with the dot com and housing bubbles contributing to the panic. However, it’s worth noting, is it not?
With my money, I am growing impatient and feel like raising more cash, not for safety, but so I can work from a clean slate–as I feel my current roster of stocks are infected by demons.