Sunday, September 25, 2011

The Thursday/Monday Syndrome courtesy of Stock Trader's Almanac

As the market is in an extremely precarious place right now we felt it prudent to relay to you the details of the current setup for the old Thursday/Monday Syndrome.
With a penchant for history, a rapier wit and a refreshing sense of humor here’s how the always salient Art Cashin, Director of Floor Operations for UBS Financial Services and a regular markets commentator on CNBC, described this ominous possibility in his daily comments today:
“The Thursday/Monday Syndrome - We had suggested yesterday that we should probably explore the history of what old fogey traders refer to as the Thursday/Monday syndrome. While it would be pretensions to say that was prophetic, it was, to say the least serendipitous, for yesterday’s action looked like the perfect first step in a Thursday/Monday setup.