Payne's Perspective: September 26, 2022: It's that Time of the Year
Well, I didn’t think the carnage would be this terrible as I typed how bad the week after September’s Options Expiration can be coupled with the seasonal weakness during a midterm presidential cycle.
Once again, there was nowhere to go and nowhere to hide. Sure, all kinds of exchange-traded funds (ETFs) are held above water but trying to trade this kind of market with those kinds of hedges can be tricky and requires a lot of time and attention.
By the end of the week, every firm on Wall Street was saying, “cash is king.” It felt like oil was turning higher, and oil-related stocks were the place to hide out until a tidal wave of selling on Friday.
To read the full report contact your account executive or email Research@wstreet.com.
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