There aren't many consistent big summer stock winners. In our sector watch, biotech is the one sector that tends to perform well in the summer months, starting in August, and July tends to be the best summer month overall for the S&P 500 stocks.
There used to be a New York Stock Exchange bias but the editors have become more progressive over the years. And in this age of a shrinking world, the Dow should represent a global economy.
It's not inconceivable to remove GM. But I'm not sure if there is another automobile company that better represents the industry and the auto industry is here to stay.
An event like this can be the proverbial straw that breaks the market's back.
Is better news for Mr. Bush.
You're dealing with a seasonal period that's less favorable for markets and you're also dealing with end of quarter portfolio issues.
I'm not looking for quite the same steep declines this year, but early August has already been weak and we are definitely trending a lot lower for the period. You're not likely to see another sustained upturn until the end of the year.
I'm not expecting this November to be any different than it normally is, but it's unlikely we'll see the pace of growth we saw over the last few years.
But that was just a minor correction on the heels of a huge bull market. The market's former success seemed to be more of an indicator that year.
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