Tuesday, October 9, 2018: Market Correction or Minor Dip?

The October Effect?

DOW -30.98—-NASDAQ +3.23—-SP500 -3.17—-NYSE -26.74

Portfolio Leaders: BPT, AAPL, ISRG
Portfolio Laggards: CAT, SHOP, T

So here we are in the month of October! Isn’t this year going by so quickly?

Um, it’s crazy how this year has been flying by, and for the most part stocks have been climbing and continuing its 11 year Bull Market run.

And October has proven to show a bit of that October Effect that analysts are talking about, where historically speaking, the markets have struggled through October heading into the holiday season.

Hopefully, the markets will rally into the New Year, and maybe we will have a Santa Claus Rally?

We shall soon see…

Boeing (BA) stock is handling this recent downtrend quite well, while many stocks have plummeted below the 50 day moving average, which is not so good.

Worst case scenario would be that top performing stocks fall below the 200 day moving average. Then that would be a major market correction.

I’m optimistic that many of the top performing stocks will rebound from this minor dip, and I’ll be trolling for some good buys that will rise to profitability for some short term trades.

I’m currently working on my Top Performing Stocks list, as it needs to be updated with this recent downtrend. And I promise to post the newly updated list on a blog post.

So stay tuned!

Today’s Leading Stocks

BP Prudhoe (BPT)
finviz dynamic chart for  BPT
Apple (AAPL)
finviz dynamic chart for  AAPL
Intuitive Surgical (ISRG)
finviz dynamic chart for  ISRG

Disclaimer: The content provided here is for information and entertainment purposes only. It is not intended as an offer or solicitation to purchase any investment. And this material should not be taken as investment advice, since investors’ needs and strategies may vary. Investing in equities is subject to extreme volatility.
Trade at your own risk.

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Carlos Rull

Carlos Rull is a musician living in the San Diego area. His interests include Yoga, Eastern Philosophy, Zen Buddhism, and Gardening. He plays drums, piano, and composes New Age & Ambient music, and his albums are available on iTunes and Amazon.com.

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