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Byline: KEN HOOVER
Summer vacation is over. Look for volume to pick up as traders and money managers get back to work.
Will this mark the beginning of another leg up in the bull market?
The signs are good. The economy is looking up, and the market is acting well.
But if you've been hoping for more volume, be careful what you wish for. The market is entering its historically weakest month.
The S&P 500 is down an average 1.3% in September over the past 32 years, making it the worst month, according to the Hirsch Organization, publisher of Stock Trader's Almanac. The Dow is off an average 1.6% in the same period. And the Nasdaq composite has fallen an average 1.1%.
September wrested its dubious distinction from much-maligned October over the past two years. The S&P tumbled 8.2% in September 2001, which included the post-9-11 sell-off. September 2002 was even worse, down 11%.