Unscientific Warning: What is occurring today is a pattern some of us have seen many, many times. Today is the last Friday of the month, and, for many brokerages, it {vs. the 31st) is the day that is used to close-out accounts for the month. Some do use the 31st ... check your Statements and you'll see. It would seem they would want the stock prices "up" for perceived performance; but that often is not the case. There is also something else that some of us feel occurs on the last Friday; but we can't confirm it yet, so I will reserve comment until validation.
The main point of this post - at last :) - IS: All other factors aside*, if this is a frequently occurring "last Friday," we will {obviously} close down today, remain down on Monday morning, and into the afternoon, then turn up in the afternoon, or Tuesday morning {in this case, with Monday actually being the 31st, will have to closely watch}.
For us, when this pattern occurs, the "Monday after" presents a very good buying opportunity.
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CAUTION: This is strictly IMHO, is completely unscientific; please: Do your own DD, examine your own objectives, and make your own decisions {{ but, don't panic sell today or Monday. :) }}
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* other factors may very well be entering the picture, which should be factored {e.g. IMVHO, there will be a/more correction w/in the next 45 days}. This post is exclusively regarding the "last Friday" sometimes-occurring pattern which we have noticed many times during the past 3 years. |
