Friday, March 13, 2009

Good Luck Friday

There is no better place to find superstitious people than Wall Street. Perhaps that is why the pre-Great Depression book, Friday the Thirteenth by stockbroker-turned-author Thomas Lawson was a best seller. They even turned the story about a rapacious businessman’s attempt to crash the stock market into a movie.

Most stock market superstitions revolved around when to invest or when to avoid the market. Now I am not referencing stock market saws like “sell in May and stay away,” which has grounding in the reality of trading volumes and money flows surrounding summer vacation patterns.

Rather I refer such silliness as the Chinese avoidance of the number 4 because it is linked to death or the Chinese love-affair with the number 8 that is linked to prosperity. American stockbrokers follow SuperBowl winners and women’s skirt hemlines.

Friday the thirteenth is a day like any other. In the current market environment the modest strength in U.S. indices during the day could be consider a wave of good luck!

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