Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 689.10

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Jan 23 4:00 PM EST

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To: yard_man who wrote (201413)	8/31/2024 6:21:17 AM
From: GROUND ZERO™	Read Replies (1) of 222294

Just to make myself clear and also for the record, I'm not refuting the very real possibility (or even likelihood) of a typical September decline, not at all... These markets are extremely overbought right now and September is historically THE MOST BEARISH MONTH OF THE YEAR with an overall average of around 5.5% decline across all the major averages... My only added comment as of late yesterday is that the market's performance is so impressive that just maybe the September selling could possibly be somewhat muted, just maybe... I still have all my downside hedges, I'd be nuts to close them out with September only beginning next week... We could see that kind of seasonal selling begin by mid week or sooner, I'm just impressed with the broad strength of the overall market and that kind of overall action also can't be ignored... So, we'll see what happens, my bets are already placed so who knows... With my kind of spread configuration, I'll do well in either direction and I think you know how that kind of spread is put together, so I'll wait and see what actually happens... I just didn't want to give anyone the impression that all of a sudden I somehow abandoned my attention on the very real September effect on these markets... You have to remember and keep in mind that I'm always the chicken when it comes to these markets and that won't change any time soon... GZ

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