The Nasdaq Might Bottom in October, According to This Wall Street Veteran -- 2 Super Stocks to Buy Hand Over Fist
The stock market has entered October after two very difficult months, particularly for the technology sector. August and September delivered a combined 7.4% loss for the technology-laden Nasdaq Composite.
But those months tend to be weak each year due to seasonal factors. Many Wall Street bankers and fund managers are away on vacation, leaving fewer buyers to step in and support dips in the market. Investors are also navigating a surge in interest rates, especially in government bonds, which could trigger weakness in the broader economy.
But in an interview with CNBC earlier this week, Wall Street veteran Art Cashin described October as "the month of bottoms." He would know! He's the Director of Floor Operations at the New York Stock Exchange for UBS, and he has worked on the Street since 1959.
Source Fool.com
