The stock market certainly has it quirks.
There are many professional behavioral patterns that exist nowhere else but on Wall Street.
Here's a brief seasonal update here for those who constantly try to pull logic or reason out of wonky Wall St behavior. According to the Stock Traders Almanac*, September is the worst month of the year, but tends to start strong and end weak.
◆ Start of business year, end of vacations, and back to school made September a leading barometer month in first 60 years of 20th century, now portfolio managers back after Labor Day tend to clean house
◆ Biggest % loser on the S&P, Dow and NASDAQ
◆ Streak of four great Dow Septembers averaging 4.2% gains ended in 1999 with six losers in a row averaging –5.9%, up three straight 2005- 2007, down 6% in 2008
◆ Day after Labor Day Dow up 13 of last 16
◆ S&P opened strong 11 of last 15 years but tends to close weak due to end-of-quarter mutual fund portfolio restructuring, last trading day: S&P down 11 of past 17
◆ September Triple-Witching Week can be dangerous, week after is pitiful.
GLTA,
R.
* -- http://www.stocktradersalmanac.com/sta/home.do