%% LOL NOT even close, as yours notes + as market moves closer to the close its even less. Another thing that really is not correlated ; traders pretending\LOL. Like all that said TX tea was so correlated to SPY + stuff. Never much of a correlation + oil has no earnings............................................... Like, i saw a student in Big Mac place with a MAC 7+/ times ; no connection or correlation except @ first or 2nd..... glance. Not a stock tip or racial statement also/LOL
Big Macs....that sounds Yummy, yummy yummy -- Good, good good, What did you make in the market today, How many Big Macs can you buy with today's trading profit? Make a Million Dollar Turtle,
%% WELL, lets count carefully; better than Big Macs/had a good crop of homegrown Mac Apples, good garden growth today/ tree farm growth. I dont keep up with the price of MCD burgers, much. Longs did better than my inverse today, except last hour. I pay more attention to mo + weekly+ grow + grocery store buy most of my food. Most likely sell some metals this week, [as usual]not daily but tends to be more than a Big MAC in HI[most expensive USa state] I did buy/ but not sell another book about another side busines$, better buy/trade than any MCD burger; but not exactly as yummy
%% And agree with SCHW; extended/after hours[ > 3;CST close] is separate. I like big watermelons + small MCD burgers sometimes .
https://www.ft.com/content/5a40b6a8-d176-11df-96d1-00144feabdc0 This article claims that highly correlated markets are killing stock picking all together.
Did stock picking/trading ever, truly, exists in the first place? Every story was about creating public awareness and hype....pump and dump, or the occasional lucky gamble, but nothing steady. That's the great thing about understanding the broad market, S&P, it's solid and steady and real for a trader to learn, grasp, and steadily succeed and grow in. The bests traders in the world master the main index. While salesmen talk about individual stocks to learn, and sell the dream to.
There are many people that pick stocks based on their company reports. The so called fundamentals. So I guess there's stock picking going on out there. Or at least is what we hear about.
Because macro economic forces impact all businesses to different degrees. (Everything in the stock market is correlated and when volatility spikes correlations move toward 1)