Dunno if anyone has come up with this theory but if not, lets call it the "MonkeyBusiness Weather/Stock Warning". If you think about it, when hurricanes hit any kind of populated area, its pretty devastating. In more ways than human tragedy too. Financial tragedy. Big time. Oh sure, people point to the fact that the local economy gets a bit of a jolt when things get rebuilt. Call me a simpleton, but I don't see any net positive gain even with new construction jobs, new purchases of durable goods, blah blah blah in a post-hurricane ravaged area.
So today there's been a buzz about a couple of storms potentially hitting the south today and perhaps the east coast midweek and lookie here, stocks are down. Oh sure, the pundits are saying it's the real weakening economy that's causing people to sell stocks this morning, but I am going to stick with my Hurricane Theory. Sell.
Now I'm not sure if predictive powers are genetic but I must leave you with this. My brother was up at the lovely Saratoga Race Course in Saratoga Springs, NY this weekend, when my 6 year old nephew said to him, and I quote, "Dad you are like a meteeeerrologist. Those guys are always trying to predict the weather and they always get it wrong. You are doing the same thing with the horses." Straight face too. Kapow. So as long as the meteorologists get it right with these hurricanes, I would still caution you. Enjoy your Monday.