I understand now, thanks. I have been planning on positioning myself for a anticipated run next year, but I wanted to wait until Sept/Oct played out (even though I was expecting sideways action, I chose caution instead at the time just in case).
I do expect a stellar run deep into '04, but when and where exactly it stops is where the good magicians will be wrote about in years to come, while obituaries written on others. Personally speaking, I firmly believe one only need to eye interest rates and liquidity in determining the trend....as to what their "breaking points" are for the market to begin building that into the indices, I'll have to step aside for any sort of answer and leave it for the more inclined. AG's first actual raise will be enough for me.
As an aside, since '42, October has yielded a average gain of almost 5% (4.9%) for the NYSE, and on Thursday near its high, it was up 5% thus far for the month (at that time). Then there's also the historical observation of 5 consecutive up days early in October, have lead to September tops, which usually climax in late November or early December lows.
I'll be buying the two above, and a March fiasco if it should manifest itself (price isn't the issue for me so much as other things).
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