With St. Paddy’s day coming up fast (Saturday 17th March) and every one being in a slightly better mood as the days become lighter (US clocks have already changed) and many parties being organised all over the US (remember Wall Street has massive Irish roots – the NYSE is normally lit up in Green) and a Guinness or two being consumed it was interesting to see how this effects markets.
The run up to St Patrick’s Day which is also the triple witching week as March futures and options expire and June becomes the front month has seen gains in over 79% of the time over the last 20 years. Average gains around 1% – the week following tends to be less positive as traders return back on Monday with sore heads. So based on history the Dow has ever chance to close at over 13000 to 13050.
On the subject of Guinness makes Diageo (LSE:DGE or NYSE:DEO) closed at an all-time high yesterday and as you know from my seminars I have owned these since 2007 and forms part of my core Tobacco, Alcohol, Gaming and Fast Foods holdings.
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