August 10th is the date to finish portfolio adjustment in advance of the fall agida*. Mutual funds do the same.
August is the 2nd worst month for both the DOW and the SnP, and has been THE worst for the last 15 years....equally as bad on the Nasdaq.
Europe is DEAD in August...nobody works, nobody cares about the U.S markets then either.
remember now, we haven't even had a recession yet<ng>
If The Recession Were Really Over…
csf.colorado.edu
Greater than all these political factors, however, is the fact that 2002 is a mid-term Congressional election year, which history shows is typically a bear-market continuation year – at least during the first three quarters....Historically, the mid-term Congressional election tends to act as a “negative attractor” for bear-market lows – that is, bear-market lows tend to occur around the time of these elections.
*"Agita" (but I think more correctly "agida") is Italian-American slang, so it may not make it into any traditional Italian dictionaries. You'll find it in print occasionally, and in American TV and movies, but I guess it's not in common enough usage in the U.S. to make it into American English dictionaries. Found a bit of speculation from a professor in the Department of Italian at NYU -- he thinks it may derive from the Italian word "acidita," which means acidity -- as in the stomach upset and heartburn you get from being stressed and annoyed -- e.g., agida. |
