Line chart, higher highs, higher lows. I would like to see a close back above 925. It's such a squirrely time of the year any thing may happen.
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The Overnight Drift Higher In Index Futures
- Thread starter Roman Candle
- Start date
It is true that for many time periods most, even all of the positive return in the market is due to overnight drift up. However this has never been a strong enough effect to be a stand alone strategy. Attached are returns for the prior three years of buying on the close and selling on the open in the ES. (edit: after $30 total transaction cost I have factored in it is still negative a small amount)
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Quote from hairdresser:
Didn't you get slaughtered last week and stopped posting during that?
I had a pretty good draw down. But I was made whole yesterday. The market has fallen so far so fast I feal the best opportunities are from the long side down here. I don't think we will take out the lows made in March for some time.
We may chop around all summer, who knows. I do know I won't be shorting with price above the 50 day moving average.
I will buy the dips for sure since we are above the 50 day moving average. I will wait for the 3 period RSI to fall below 40 to buy when the 50 day moving average is rising.
When price is below the 50 day moving average I wait for the RSI to get near 80 to short.
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How, did they have a paper sale at Office Depot stock_trad3r? You wonder why nobody believes any of this crap when you vanish after a 50 point drawdown on a supposed overnight trade, and you rode the whole thing out, right. LOL Still the best contrarian indicator going.Quote from Roman Candle:
I had a pretty good draw down. But I was made whole yesterday.
Quote from xednise:
How, did they have a paper sale at Office Depot stock_trad3r? You wonder why nobody believes any of this crap when you vanish after a 50 point drawdown on a supposed overnight trade, and you rode the whole thing out, right. LOL Still the best contrarian indicator going.
STFU rookie, you see it up don't you. Do your own research. I could care less what people on ET think.