This is the time of year when the days get darker sooner and summer holidays are a distant memory. People get depressed. It coincides with Halloween, a time of remembering the dead. It’s not a time people feel bullish.
We are currently surfing on a tidal wave of government debt in the EU. Wouldn’t surpise me if someone starts selling and it turns into a run.
I think people are punch-drunk with all the bailouts. Traders may not be as vigilant. And the EU seems to be ready to throw debt at the problem in the medium term. So we’ll see.