I am baffled by that logic, as well. Where did the OP come up with the idea that there would be a large influx of November applicants?
Mid-October is late. Applying late puts you BEHIND everyone else, not at the top of the list. If you want to be reviewed, and you want to not come off as someone who puts things off until the last minute (whether that is the case or not, it would seem that it could very likely be viewed that way by some PDs), then for crying out loud apply the first of September.
"When I haven't any blue... I use red."