The old Wall Street adage says:
"Sell on Rosh Hashanah and buy on Yom Kippur."
Rosh Hoshanah began at sundown on Sunday, 16 September this year and continues until tomorrow. Yom Kippur will begin at sundown on Tuesday, 25 September.
And the selling did come in today as stocks turned lower after a strong week off the Fed's open ended debt monetization program.
The cheerleaders on financial TV had the equity pom poms out in a big way. I am still running the short hedge to my bullion longs which I had on Friday.