there was one year, can't remember when, I shorted the Thanksgiving rally and the trading day after the holiday, the market tanked.
So if one is too jolly over unrealized profits then...
BOOK 'EM!
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Thoughts and advice on all things money. Please realize that I can be wrong and there is risk of losing money if you trade based on my writings. I found this quote on LaMetropole and believe it appropriate of what this blog is all about: "If you have no confidence in self, you are twice defeated in the race of life. With confidence, you have won even before you have started" … Marcus Garvey. A corny, child-like song puts simply why we should invest: http://youtube.com/watch?v=Yw0wgOCvTjo
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1 comment:
I would redo that study to take into account the overall trend and mood of the market. I think this year Friday will be down again, too. The only problem is there are far more years with uptrends than downtrends, so this would be hard to figure out statistically. There is a book on candlesticking, and the author says knowing the overall market trend is the most important thing in trading. Playing the short-term requires knowing the long-term. Don't buck the long-trend.
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