New Quarter - New Month - Beware October
As the media is having a “Giddy Up” spin as the DOW 30 hitting all time intra day highs - It needs to be pointed out that these 30 Stocks are not representative of the thousands of others. New money coming into the market.
Beware the Month of October and Sub Prime Monster!
October is traditionally a volatile month. Many homeowner loans are set to be readjusted. For those who have already forgotten that the sub-prime monster is still alive and well, It is worth stating that the Housing bubble started inflating in 2001 with 5 and 7 year ARMS still ticking to reset over the next few years.
Dollar Index Hitting Record Lows
Bloomberg has a fantastic article with analysis covering several bases. The US Dollar Index is making historic lows never seen since the NYBOT first started tracking the basket of currencies used to gauge the greenbacks strength.
The article also gives opinions on consumer confidence, inflation, and hints at speculation on what the ECB may do later this week. “The expectation of an ECB ease was squashed”. said Robert Since - Bank of New York.
Click Here to read the Bloomberg Article in it’s entirety
Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN), he is also a mentor and trading coach to select clients.
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