The Halloween Indicator, 'Sell in May and Go Away': Another Puzzle
About:-HALLOWEEN INDICATOR
Damm-it!!We're all being caught by the higher financial authorities who has pre-planned this FINANCIAL TSUNAMI of the century.
Tracking the Dow On Thursday 23/10/08.(*8 DAYS TO HALLOWEEN DAY)
9:30am:--Mild Gap Up.
Investors managed to put together an early morning advance, despite the fact stock futures suggested a downward start in premarket trading.
10:30am:--Spinning bottom.
Energy (+2.6%) continues to lead the major indices.
11:30am:--Bullish hammer.
Goldman Sachs (GS 107.58, -7.13) will be cutting 10% of its workforce and Dow Jones indicated that General Motors (GM 6.21, +0.02) will be making layoffs of salaried employees.
12:30am:--Hangman.
Investors remain fretful over the health of the economy and, in turn, company prospects
1:30pm:--Shooting star.
Losses have become the most severe in the financial sector (-3.1%). Every one of its industry groups is trading with a loss.
2:30pm:--Hangman.
Trading session is getting more erratic.
3:30pm:--Graveyard doji.
The Dow looked as if it were going to stage a late-session rally as it is trying to pierce through the MAV.
4:00pm:--Shooting stars & Hangman.
Caution,the long white bar that carries it up might be covered back.
Thursday's attempt to recover was weak and ended with a long lower shadow which risk being covered back again.
They are trying to prolong it till end of the month being the grizzly Bearish Halloween Blood sucking day.