And a certain someone 'round these parts is eating crow for repeatedly saying the day session has no range. (Not you. You know who I am on about.)
I wouldn't draw any conclusions about RTH range. And then there's the studies... apples peaches and pears. VIX is low to mid-teens. That allows overnight drive-bys with some size to adjust price levels. Volume makes things happen. Volume overnight is meh compared to rth. But... now to get a read on that, micro and mini combined should be considered. Apples, oranges, bananas!! Have a nice day.
Being up 3.5 million and then closing flat is not a 3.5 million loss. It's just not realizing a 3.5 million gain.
He was laughing at me for being startled at $3.5M disappearing from his screen, while I used his bathroom. The point is that this was a normal/regular fluctuation in his portfolio. He is a very talented portfolio manager (and has a sick car collection), went on his own after the SAC scandal, and then returned to... Point72 Asset Management!!!
I see. So if you lose $3.5 millions right after the open but break even at the end of the trading day you won 3.5 mil, right?
No, it's the same thing. You broke even. The value of the number doesn't matter you silly. If you were down 3.5 million and ended the day flat, you did not realize a 3.5 million loss. According to the post, the guy had a billion. So what is a mere 0.3% potential on the day? Pssshhaaww! Peanuts in a walnut gallery, heh
You had 3.5 million at some point in time. That money was legally yours. Heck, you can buy a nice villa in the South of France or Spain with that kind of money, and live like a king for a while. Unfortunately you manage to lose all that money a few minutes later. Strangely enough, that loss is not real according to you, it's a fictional loss, it never happened. Right.