It’s Gett’n Kinda Hectic!
So far, the S&P 500 is down 8.8% for the month of October (as of Sunday, October 28, 2018). If it finishes here, it will be the worst month since February of 2009, and the worst October since 2008. Remember those months?
Did you know that during the third quarter (the one that just ended), there was no daily move in the S&P 500 of more than 1%? The last time that happened was 1963. I (Shea) was not even born yet. However, in this month alone, we have seen six days of +/-1% … that’s about 33% of the month’s trading days.
The S&P 500 has lost ground on 14 days out of the 18 trading days so far this month. That’s more than any month since May 2012.
While this isn’t the most positive news, it’s best to accept reality and deal with it. The market moves and the best investors are the ones who can move with it.