I Love September…the Nasdaq Does Not – Momentum Monday

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Good morning…

Back to work as the markets are open after a long weekend.

Ivanhoff is taking a shot vacation and so I decided to keep it brief today.

I love September. I was born in September, so was Ellen. We are born 11 days apart.

I love the change of season that September brings.

Investors as a whole do not like September.

September is the nemesis of the Nasdaq.

It is the second half of September that has historically been the worst according to Ryan Detrick:

Back to school blues, end of summer blues yada yada…mood matters.

Armed with this data the question is should I care?

For most long term investors it probably does not matter. Just be aware that by November, stocks have generally started to improve.

Maybe earmark some capital to invest in your favorite indexes for the end of September and October. That is what I plan to do.

As for a few interesting charts I give you gold:

I bring up gold because the Nasdaq leaders are spending all their CAPEX on $NVDA and while it is hard to time when that chip spending stops or slows down, gold has been quietly creeping higher every week (I continue to own some $GLD).

Two other stocks that are NOT buying $NVDA chips that I have owned a while (shared here over the months) closing at all time highs are Goldman Sachs and Netflix.

Both stand to benefit from AI without all the spend… Goldman (IPO’s and cost cutting people/analysts) and Netflix (recommendations and more content).

Have a great week.