Today’s action has reinforced my loathing of maintaining August trading positions, writes David Fry, founder and publisher of The ETF Digest. The markets are supposed to be forward-looking, discounting future news. Light August trading conditions sometimes fool Mr. Market and make things less efficient.
We’ve experienced repeated up and down days with sell-offs becoming the more impressive. While August is usually marked by low trading volumes, September and October are often seen as both volatile and bearish. Some would argue that the fall is the season to buy right up to the Christmas holidays. But, like I said Sunday, “I’m just trying to get through August.
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