Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Art Cashin On The History Of Friday 13th In The Markets

Saturday, January 14, 2017 5:26
% of readers think this story is Fact. Add your two cents.

(Before It's News)

zerohedge.com / by Tyler Durden / Jan 13, 2017 1:50 PM

In his daily note, everyone’s favorite veteran floor trader, UBS’ Art Cashin, reprises the history of Friday the 13th in the markets, and finds that it is far less scarier than some may believe, and in fact has a mild upward bias as it is up 55% to 60% of the time. There are, however, accidents, and on Friday, October 13, 1989, the attempted LBO of UAL collapsed and the Dow plunged 190 points, equal to 860 points today.

From The Feb 13 edition of Cashin’s Comments

Triskaidekaphobia (A Reprise) – It’s Friday the 13th and all of the negative myths surrounding it pop up. Friday the 13th actually has a mild upward bias in stock market history. It’s up 55% to 60% of the time.

Those numbers get stood on their head if Friday the 13th falls in the month of November. In November, Friday the 13th has a 70% negative bias, falling a little under 1%.

We think the overall negative myth may be based on a novel published back around 1910. It told of a plot by an evil stock trader (ain’t they all) to crash the market on Friday the 13th.

READ MORE

The post Art Cashin On The History Of Friday 13th In The Markets appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/01/13/art-cashin-on-the-history-of-friday-13th-in-the-markets/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.