Market Notes:
Crashes happen in October. 1929, 1987, 2008 are legendary moments in stock market history. The greatest crashes of all time. So as we welcome the new month we’re often warned of the impending doom October brings to the market.
But October holds a secret if you dig a little deeper … It’s a bear killer. 12 times in the past 75 years bear markets ended in October.
I believe the prime buying time is October. As the markets show weakness I’m standing back and letting it shake out. The VIX has stayed relatively low and the market continues to show signs of risk-on behavior.
Speaking of risk on bitcoin is alive and well. It’s trading at the top of its range this morning as the weekend approaches. Bitcoin often makes big moves after the markets close.
I’m risk off but growing excited. We are poised for a great close of the year. Happy Q4!
Watchlist:
*PALT is on watch
*SDPI has support at $1.40
*APRN has support at $7
OG has support at $8
LPTX watching for a setup above $4
INDI has support at $12
GOGO watching for a setup above $18
OTC (on watch, no levels):
ILUS, CYBL, FERN, ICOA, TONR, JZZI
