Midnight rally

Quote from trade4succes:

i think i just found the holy grail for you! go long! always go long!
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You are correct, alot of big time money managers have been sent to the poor house by being short, and not taking the loss.
Barton Biggs was short Crude and advising his clients to get short. I don't know if he bailed but he must be hurting if he is still short.
 
Quote from EqtTrdr:

nobody sees anything strange that since 2002 9 out of 10 days futures are up premarket?
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Sounds like good odds, what are you waiting for? Today is the last day of Q2 something was bound to happen to squirt the market up.
 
Quote from EqtTrdr:

happens each night... every single one.

Just seems like the market is not allowed to ever gap down overnight..... ever

go back 2 years and count how many times the market gapped down on a Monday.... less than 20% imo

something seriously wrong with that picture. Even during 1999 market would gap down huge-- not anymore.

Also we have gone the longest number of days in the history of the stockmarket without a 2% down day in the SPX-- in fact we have doubled the previous streak of days

smells kinda fishy if ya ask me
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It's statements like this that are detrimental and crawl into traders brains and stay there.

#1 - Globex traded indices, for the most part, do not Gap. They do if you omit the overnight data but if you randomly omit any segment of the day in any Market you can create "a" consistency.

#2 - Less the 2% of the time (E-mini S&P), over the last 5 years (as long as I have kept specific data) has the Market changed direction overnight from the confirmed direction it created going into the close.

I know other Markets gap; grains, livestock precious metals, etc. but not the indices. As far as the Markets going "up" every night, that in nonsense. The month of June, in the mini S&P alone, has produced 11 upswings, 10 downturns and 1 flat open overnight and that is a far cry from "every single one" gapping up.

What is fishy is making a statement like you have.
 
Your statement is BS too. Try trading the underlying stocks of ANY index and see if the market doesn't gap.


Quote from Charlie Dow:

It's statements like this that are detrimental and crawl into traders brains and stay there.

#1 - Globex traded indices, for the most part, do not Gap. They do if you omit the overnight data but if you randomly omit any segment of the day in any Market you can create "a" consistency.

#2 - Less the 2% of the time (E-mini S&P), over the last 5 years (as long as I have kept specific data) has the Market changed direction overnight from the confirmed direction it created going into the close.

I know other Markets gap; grains, livestock precious metals, etc. but not the indices. As far as the Markets going "up" every night, that in nonsense. The month of June, in the mini S&P alone, has produced 11 upswings, 10 downturns and 1 flat open overnight and that is a far cry from "every single one" gapping up.

What is fishy is making a statement like you have.
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Quote from risktaker:

Your statement is BS too. Try trading the underlying stocks of ANY index and see if the market doesn't gap.
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I clearly stated the indices do not gap on their own.

I also cearly stated that markets do gap. Stocks were specifically omitted but included in the "etc."

Please quote me on what I stated not what you think I stated or what you think I meant. We will all get along better and pull less "wears" out of our collective bums.
 
Not to worry folks about this little sell off today. Just buy at the close and sell the next morning. The midnight rally gang will surely be a work tonight.
 
Quote from Rickshaw Man:

Buy now for the overnight rally its guaranteed!
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Just kick back and make profits on the long side in YM, all this as I sleep. Yep I will get up around 3:00 cst and glance at my profitable long position. Hey what can I say its a sure bet.
 
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