The Dow's Halloween Scare.

Halloween is practiced in United States, England, Ireland, Scotland, Wales, Canada, and occasionally in Australia and New Zealand.The big beneficiaries of Halloween are the candy companies,costumes retailers and of course the pumpkin sellers.

One of the most simplified statements designed to give the retail investor an early scare ahead of Halloween is this headline from the Financial Times of Sept. 27: "Bear market has begun." It doesn't get more direct than that!

But the granddaddy of the major news wire stories by far was the MSN news headline of Oct. 5: "Is a Global Crash Coming? (Report warnings world's economy is at risk)."

So,whenever you start seeing pictures of bears in the financial press it is time to buy stocks with both hands.

Financial rumours have emerge of late as most of these medias are privately owned or might have kickbacks for the writeup which only benefits certain individuals or shareholders.These insiders campaign of wrapping up the market and then luring the public back again has been an ongoing affairs.

The Dow 0n Monday,26/10/09 is 19 days to index futures expiry.

We are 6 more days to Halloween Day.

9:30am:--Bullish inverted hammer.

10:30am:--Bearis harami hammer.

11:30am:--Halloween scare bearish spike.

12:30noon:--Morning session low with dragonfly doji,retracement.

1:30pm:--Bullish engulfing.

2;30pm:--Double bottom with bullish inverted hammer.

3:30pm:--Triple bottom with many dragonfly dojis.

4:00pm:--A smallish dragonfly doji...advance third quarter GDP announcement is on Thursday.

The chart shows alternating two bears with a bull,so look forward to another short-covering before the halloween financial analyst or ratings companies give another pumpkin scare.

The overall October candlestick pattern as todate has a long upper shadow which is a good foreplay for the bulls when the bears unwind their positions for the winter holidays.Repositoning by the some of the investment funds will provide the bulls with a little bit of cushion.

**blogger here will be off backpacking to Thailand for two weeks.