Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 24th of October.
For the first time in five months the market is lower for the month by almost 2%. October can be a very cruel month for stocks. Some of the biggest stock plunges in financial history have all occurred, coincidentally, in October.
THE BIG THREE PLUNGES
Oct. 29, 1929, the Dow plunged a substantial 12.8 percent. However, it didn’t stop there.
Oct. 19, 1987, the stock market lost $1 trillion in value in the next few weeks.
Oct. 2008, saw a start of a market melt down. The problems began months before, but October was the worst month. Continue reading "MarketClub TV for 10/24/12: October can be a tough month for stocks"