It felt good to be back on the floor of the New York Stock Exchange this week.
The building had a calmness to it — not surprising, since this was the final stretch of summer.
Sure, the calendar says summer runs until the autumnal equinox on September 22. But, on Wall Street, everyone knows Labor Day is the cutoff.
The kids are back in school, portfolio managers are back from the Hamptons, and trading desks finally get busy again.
That’s just how the rhythm of the street works.
But here’s what stood out: While everyone was easing into vacation mode, the market quietly delivered one of its strongest summers in four decades.
According to FactSet, the S&P 500 just logged its third-best Memorial Day–to–Labor Day run in the last 40 years.
Magic Happens at the NYSE
The New York Stock Exchange is one of the most beautiful buildings in New York City.
As far as I’m concerned, this isn’t just another landmark—it’s the most important building in all of capitalism.
Think about what it represents. It has always been a place that brings people together.
I spent four or five hours there on Wednesday trading ideas and debating market trends with investors from all over the country.
Was the Uber (UBER) into the city overpriced? Probably.
Were the cocktails after the bell too expensive? Definitely.
Were the ribeyes and Bordeaux a bit outrageous? Absolutely.
But the value of those conversations will more than pay for themselves. You have to get out there. You have to listen.
Networking may be a lost art for some, but for those who still practice it, it’s a massive edge.
It’s Football Season
In America, once football kicks off, summer’s officially done. The weather even turned cooler this weekend.
September has a reputation as a portfolio killer—the worst month of the year for stocks historically. But this time might be different.
According to my friend Ari Wald, head of Technical Analysis at Oppenheimer, September has historically been positive on average when it starts the month above its 200-day moving average.
And that’s exactly where we are heading into Tuesday.
On top of that, history shows the September-to-December period tends to run stronger under second-term presidents. Another tailwind for this year.
So, if you’re going to be bearish just because it’s September, you’re going to need a better reason. Seasonality alone isn’t it.
My time at the NYSE this week was a reminder: The market rewards those who show up, engage, and do the work.
The lost art of networking is leaving a lot of people behind. Don’t let it leave you behind too.
Get out there.
This Week in Everybody’s Wrong
On Monday, we talked about how investors must separate what we want from what we have.
In other words, you have to play the cards you’re dealt.
Indeed, the only way to make money is to trade in the market that exists.
On Tuesday, we addressed the people who love to slap labels on me depending on where we are in the market cycle.
When stocks are trending higher, I’m often called a permabull, but when stocks are trending lower, I’m often called a permabear.
Of course, I’m neither permabull nor permabear – I follow data, price, and trend…
On Wednesday, we remembered that Financials make the world go ’round.
That’s based on a lot of personal experience, including the Global Financial Crisis of 2007-09.
Here’s why regional bank rotation is what to watch right now.
On Thursday, Friday, and Saturday, I invited my friend Matt Milner to share the secrets of private investing with you
Matt has sold several startups of his own, and he and his business partners own stakes in more than 50 private companies, including SpaceX and xAI.
We’ll continue to share ideas and opportunities such as this with you as they come across our desk.
Have a great Sunday.
We’ll see you Monday morning…
JC Parets, CMT
Founder, TrendLabs