DJIA Drops -500 Points Last Night Again!!?

Posted by Kris | Wednesday, October 08, 2008 | | 0 comments »

DJIA dropped -500 points last night which i thought will be the temporary reversal point for the downtrend. This lastest drop really put DJIA into the same spot 2 days ago where DJIA lost 800 points but recovered 500 points to close at -300 points.

September is really an unlucky month for the stock market and the world in general. A lot of awful global things/events happen in September. Coincidentally, September is the 8th month of the chinese lunar calender where the chinese consider it to be auspicious and lucky. This is the month where a lot of couple will get married.

In total in the whole of September, the DJIA lost roughly ~2000 points!!!

Moving forward to the month of October, it is the month where the famous 19th October 1987 ,free fall of the stock market occured. I just got to know that date from reading "The New Market Wizards" book. Good read. Coincidentally, the ban on financial stocks is extended until 19th October 2008. Is this a very fateful coincidence? Only time will tell.