Midnight rally

[Rickshaw Man]

 

[Laissez Faire]

Certainly not the best week to start this experiment. Buying the cash close and selling the cash open yielded a gross return of - 46,00 ES points this week - assuming actual close/open prices and not considering commissions.

If we count the entire year so far. 10 trading sessions. The result is - 15,25 points.

So, currently the system is in drawdown.

Update for 2020:

Current tally for buying the cash close/selling the cash open: + 22,75 points.

That's not a huge return, is it?

If, however, you bought the cash open the 4th of January, 3758,50, you would be up 3832,75 - 3758,50 = + 74,25 points on Friday's Close.

So, it seems like buy and hold is doing far better so far this year if you want to profit from an up trend. Hardly a surprise. I imagine the numbers to be similar for other trending periods as often you'll see consecutive closes higher and you will miss those gains by going flat on the Open.

As for the fantasy claim that the market opens gap up 90 % of the time. I checked 2015-2020. The actual number is that the market opens gap up 56 % of the time.

 

[Rickshaw Man]

Oh look the stock index futures are up...SHOCKER

 

[ElCubano]

Oh look the stock index futures are up...SHOCKER

View attachment 249819

And it’s not even midnight

 

[Overnight]

Oh look the stock index futures are up...SHOCKER

View attachment 249819

Then close your profits NOW dude! I did! I got only 150 points from holding for a week of your bullshit! What are YOU going to do? Secretly hold forever, or *shocker* get stopped out when it collapses, like a few weeks ago?

Buy and hold, man. Your method is an utter failure.

 

[KCalhoun]

With all the earnings releases this week we may get a mix of gaps up and down. Should be interesting.

 

[Overnight]

With all the earnings releases this week we may get a mix of gaps up and down. Should be interesting.

It's all fun and interesting games until someone loses an eye-phone.

Get it? Ahahahhaaaaa....Haaa...ha?

 

[Rickshaw Man]

Folks in case you have not noticed, the stock indexes are rigged to the upside. The days of bear markets are over, sure we may get a few down days. But that's about all your going to get

 

[noddyboy]

Folks in case you have not noticed, the stock indexes are rigged to the upside. The days of bear markets are over, sure we may get a few down days. But that's about all your going to get

But why buy indices when my GME is up 50% today? Serious question. It is not that hard.

 

[ElCubano]

Folks in case you have not noticed, the stock indexes are rigged to the upside. The days of bear markets are over, sure we may get a few down days. But that's about all your going to get

A few down days , as in 1/2 a day you mean right?