Today will test on an old adage: Trade the first day, and stay away. It's a mystery why the...

|By:, SA News Editor

Today will test on an old adage: Trade the first day, and stay away. It's a mystery why the trend has been so consistent, but market watchers like Ed Yardeni point to the release of U.S. manufacturing data that usually hits on the first day of the month. Others point to money moving out of paychecks into 401(k)s and window-dressing by investors.