October is always a scary month for stocks. The profits from summer months spent lounging at the beach are never all that great and the cold winds of autumn remind everyone that the carefree daze are gone. As the numbers roll in at the start of October there is a natural tipping point in the stock market – the time when, if it’s gonna go down it will.
This year there is an intensity around the numbers that is probably an even bigger predictor of failure. When greed is beating fear no one really cares about something as techno as data. When everyone feels good, why not throw a party? Numbers, themselves, are cold and hard and always ready to disappoint. This October is setting itself up for a bad time ahead.
But it’s good that everyone is finally watching.