You're talking about an institution whose entire basis is peer pressure and popularity contests; and decides a company's fate on speculation, rumors, and what might happen. Are they superstitious?
Ordinarily, I'd say that the market is very superstitious and one might want to lay low on that day, but this time around, I believe the "big boys" have been positioning themselves for weeks and they're snatching-up shares at rock bottom prices from Average Joes. And, if this continues to be the case, I don't know that the scared masses will be waiting for a specific date, so I actually wouldn't be surprised if the 29th is flat or if the indexes close slightly up for the day.
Of course, if everybody tries to sell into the rally, then we could end-up down, but I think that things have been so messed-up for a while, Black Monday might actually become a wash.
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branchandroot
(no subject)
Date: 2008-10-10 05:02 pm (UTC)(no subject)
Date: 2008-10-10 08:06 pm (UTC)Maybe.
FOAFing
Date: 2008-10-10 09:28 pm (UTC)Of course, if everybody tries to sell into the rally, then we could end-up down, but I think that things have been so messed-up for a while, Black Monday might actually become a wash.