Market Comment

It will not be surprising to see a broad short term market correction develop as we move further into the month of October. If such a correction does take hold, you can expect to see bears come forth in a loud chorus of prognostications simply because of the problems widely recognized as symptomatic of October trading action.

While I am very respectful of the history of trading difficulties in October, at this point my work suggests a short term correction as opposed to an October debacle.

If and when we do see a correction, I intend to monitor it carefully. All long term problems start out as short term problems.

Friday closes:
DJII (11,850)
S & P 500 (1349)
Nasdaq (2300)
TSX (11,691)