Friends
Thanks for all who participated in our call today. I hope we were able to shed some light on the market action in October. Indeed, despite the last couple of sessions it was a difficult month for stocks. Does the positive action over the last two days mean anything as we head into the last couple of months of the year? Well, on a technical basis we did repair a little bit of the damage, but stocks are still at or below important technical levels and moving averages. We’ll put today in the win column for the bulls but the last hour of trading was a bit shaky.
For the day, the Dow Jones Industrial Average was up 241 points (it had been up more than 400 points) to finish the day at 25,115. The S&P 500 was up 29 points to close at 2711. Gold was down $7 to trade at $1,217 per ounce, while oil was down $1.09 to trade at $65.09 per barrel WTI.
Finally, October is over. Hopefully we can put it behind us and move forward.
Take care of the little trick or treaters tonight. Happy Halloween everyone.
