Turnaround Tuesdays

Once again we had a negative day on a Tuesday and so, the commentators remind us of the phenomenon called “Turnaround Tuesdays.” I used to ignore this idea and yet, the more it happens - the more I am thinking about it. It seems to me that Tuesdays follow Mondays (brilliant right?) and lately, Merger Mondays are pushing the market a bit too far. As a result, it’s not so unrealistic to expect that we get some selling the following session.  When you couple that with other factors such as mortgage problems (CFC), currency issues, earnings concerns, etc. you get a decline.  I am confident that if all of this had happened on a Wednesday / Thursday combo, we would just be looking for an ugly name that goes well with “Thursdays.”