Market timer: Don't have 'October phobia'

A trader on the New York Stock Exchange holds his head in October 1987 as stocks were devastated during one of the most frantic days in the exchange's history.
Maria R. Bastone | AFP | Getty Images

October is synonymous with single-day stock market calamities, most notably because of the "Black Monday" crash in 1987 and the plunge in 1929 that preceded the Great Depression.

And that fear has grown this year as the stock market is already in correction territory leading into the scary month. Uncertainty surrounding interest rates after the Federal Reserve's nondecision, decision Thursday is only feeding the panic.

"There's the phrase 'October phobia,'" said Jeffrey Hirsch of the "Stock Trader's Almanac" book, newsletter and website. "It's been the month of crashes and massacres."

But "it's the best month to be buying stocks and most stock sectors," adds Hirsch, who sat down with CNBC Pro for a quick chat about his specialty, seasonal trading.

Hirsch reveals when and what to buy in October in the short video below.