Friday, March 21, 2008

market lore: unraveling the curse of Good Friday Exclusive--Bloomberg and Trader were carrying an interesting historical tidbit this morning, which I now share with you.

By Coincidence or Not, Good Friday Trading-Free Since '07 Panic

By Chris Dolmetsch

March 21 (Bloomberg) -- The New York Stock Exchange is closed today, as it has been every Good Friday for nearly a century and a half except for in 1898, 1906 and 1907.

That last one was in the same year as the infamous Panic of 1907, when the value of U.S. stocks plunged by more than a third. Hence, a legend that persists 101 years later: Traders get to stay home the Friday before Easter not just because it's a Christian holy day but because of its association with one of history's great bear markets.


  1. Truth or lore? Does it Matter? What are we as a people without our myths and legends?

  2. It occurs to me as I read this post and Gloria's comment that it is an example of myth and Mrs.

    I can just hear you groan.