Even more scary SPY had 5 consecutive lower closes than opens after the 10.8.2008 close (Wednesday) SPY has 5 consecutive lower closes than opens after today 5.19.2010 close(Wednesday)
There was an interesing series of articles in S&C magazine a year or two ago looking at Open Close relationships. I think it was based on the QQQQ's.
Regardless, it would do you well to dig it up and read it. Also, another on the theory of runs as applied to the market. Might want to pick that one up as well.
Tease: Right after publication the relationships fell apart. So, like all TA it is just another arrow in the quiver but you will not fell your opponent with one.
Also, I agree with the comment regarding leveraging. What SUN mentioned happened to me as a kid when I thought I had it all figured out.
The market may or may not be a casino. But if you talk to professional gamblers, they will tell you that position sizing is key.
One of my good friends hold a graduate degree from Stanford as paid his way through school counting cards for a syndicate. This is no BS story. Although I did not believe him for years!
see below. You may be in luck. Sundancer, we know leverage is stupid. Problem is, if you don't have a lot of capital, making 10% on nothing, is still basically nothing! But that is why I closed out most of my May puts earlier in the week and rolled into June ones.
I have doubled down on my long popcorn position!!!!!!
Leverage kills during Big Rituals
Now this close on the SPY today is rather scary if you're long The operators did this same Ritual during the Oct. 08' fall harvest of Spec. Capital. The Wednesday of that Week here was the SPY Ritual 10.8.2008 Open: 97.52 10.8.2008 Close: 97.51 5.19.2010Today: 111.77 5.19.2010 Close: 111.76
2 occurrences of SPY 6 consecutive lower closes than opens in the past 555 TD 1 in Dec. 09' 1 in Oct. 08' happened during the Fall Harvest of Speculative Capital
In the past 777 TD the longest SPY sequence is 8 consecutive lower closes than opens
Even more scary
SPY had 5 consecutive lower closes than opens after the 10.8.2008 close (Wednesday)
SPY has 5 consecutive lower closes than opens after today 5.19.2010 close(Wednesday)
Red,
There was an interesing series of articles in S&C magazine a year or two ago looking at Open Close relationships. I think it was based on the QQQQ's.
Regardless, it would do you well to dig it up and read it. Also, another on the theory of runs as applied to the market. Might want to pick that one up as well.
Tease: Right after publication the relationships fell apart. So, like all TA it is just another arrow in the quiver but you will not fell your opponent with one.
Also, I agree with the comment regarding leveraging. What SUN mentioned happened to me as a kid when I thought I had it all figured out.
The market may or may not be a casino. But if you talk to professional gamblers, they will tell you that position sizing is key.
One of my good friends hold a graduate degree from Stanford as paid his way through school counting cards for a syndicate. This is no BS story. Although I did not believe him for years!
see below. You may be in luck. Sundancer, we know leverage is stupid. Problem is, if you don't have a lot of capital, making 10% on nothing, is still basically nothing! But that is why I closed out most of my May puts earlier in the week and rolled into June ones.
Thanks Monica… not good for bears, as we really needed a higher close to reset it I guess.
I have doubled down on my long popcorn position!!!!!!
Leverage kills during Big Rituals
Now this close on the SPY today is rather scary if you're long
The operators did this same Ritual during the Oct. 08' fall harvest of Spec. Capital.
The Wednesday of that Week here was the SPY Ritual
10.8.2008 Open: 97.52
10.8.2008 Close: 97.51
5.19.2010Today: 111.77
5.19.2010 Close: 111.76
Red, I guess we are going to at least 120.60 tomorrow. Just hope we don't get above 1140s. ARGHHHHHHHHHHHH!
six.
Yes, yahoo says the same. Oh well.
How many lower closes then opens are we at now?
2 occurrences of SPY 6 consecutive lower closes than opens in the past 555 TD
1 in Dec. 09'
1 in Oct. 08' happened during the Fall Harvest of Speculative Capital
In the past 777 TD
the longest SPY sequence is 8 consecutive lower closes than opens