Nov

16

TxgivingThursdays are always the most exciting days, with the most dodges and feints, and I must take my hat off to the market for a truly impressive reprise of many Thursdays where there was a huge rally after a huge decline, with the reverse this time, to say nothing of going with the corresponding day of last week, four times in a row, as well as the further divergence between the earnings yield and bond yield, and so many other completely irregular activities.

Jay Pasch recalls:

It was a Thursday that marked the August lows with a heroic reversal day (08/16/2007); it was a Thursday (10/11/2007) that the Dow hit its 2001-2004 base breakout measurement of 14200 and it's been a downhill slog ever since…

Jim Sogi adds:

Speaking of Thursdays, next week is Thanksgiving. Marty Zwieg did a study in his old book Winning on Wall Street , counting how often the Friday after Thanksgiving goes up for stocks, with a high percentage of up days when everyone is feeling good.  Vic and Laurel expanded the idea that this holiday effect is typical.  However one thing recently is that they've been jumping the gun to get ahead of the pack.


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