Ian Woodward's Investing Blog

Let’s Hope the Market Doesn’t Celebrate Guy Fawkes Night!

Guy Fawkes

Guy Fawkes Night is celebrated in Britain annually on November 5th.  The event is accompanied by firework displays, the lighting of bonfires and the ceremony effigy-burning of one Guy Fawkes, who was caught red handed before he could blow up the Houses of Parliament and is known as The Gunpowder Plot.  I trust we do not have a bad day tomorrow in the Stock Market, but if we do we can blame it on Guy Fawkes! 

There have been a good deal of fireworks on some of the leading stocks and this could portend more trouble to come with at least a reasonable correction and/or a rotation into new Industry Groups.  Here is the performance during the past three weeks of the Gorilla RonIandex since 10/14/2007.  Although some stocks, notably GRMN are down nearly 15%, the Group is still holding up.  We must understand that at EPS Report time, there is usually a fair amount of profit taking, and we will have to wait and see if these leaders get whacked further. chart

Best Regards, Ian.

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