Monday, Monday what will you bring!

With a losing streak dating back to May 9th the North American stock markets have had a rather rocky time of it for the month of May as the stock markets take back some of the higher levels they had reached in the last little while.

And if the last two weeks have made for nervous times for the traders and investors, some observers say buckle up, because the ride might get even more interesting in the near future.

Tracing back some rather worrisome parallels the Timesonline has published a story on how the indicators of the last little while are rather eerily parallel to those just before the Black Monday crash of October 1987.

David Woo of Barclay’s Capital manages to maybe, issue a warning while at the same time keeping that traditional British sense of calm and order, as he surmises the situation as thus; “We are very uncomfortable about predicting financial crises, but we cannot help but see a certain similarity between the current economic and market conditions and the environment that led to the stock-market crash of October 1987,”

So one is left to wonder if we should be stuffing more bills than usual under our mattresses just in case, history repeats itself!

There has been an increase of late in the financial world of market followers suggesting that a correction is in the offing, it remains to be seen if the last ten days of May were the beginning of the correction or just a taste of what may be to come in short order.

Regardless, Monday in New York should be an interesting day to watch the markets, Canada will be given a day’s grace as the TSE and other markets are closed for the Victoria Day Holiday, normally Ontario features fireworks to celebrate the Sovereign’s Day, could be that the fiscal fireworks will follow on the Tuesday.