The Bears Nears Its First Birthday

We’re coming up to the one-year anniversary of the market top. The S&P 500 peaked at 1565.15 on October 9, 2007. Going by yesterday’s close, we’ve lost 32.47%. However, those losses have been heavily skewed toward Mondays.
Here’s the days-of-the-week breakdown:
Monday -26.65%
Tuesday +12.57%
Wednesday -7.33
Thursday -2.71%
Friday -9.29%
It appears that holding over the weekend is to be avoided. In fact, the combined performance of the three middle days of the week is a gain of 1.49%. The market has lost more than one-third on Monday and Friday combined.

Posted by on October 7th, 2008 at 11:08 am


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