Don - I know this thread is for people trading the opening stock system, but the day of week stuff relates to my futures trading. I actually have a system that I only trade Tues - Wed - Thursday. I made this move after breaking out my performance by day and it has helped tremendously. Do you avoid or trade smaller size on days that aren't historically appealing?
Not really, but I do trade a bit differently during seasonality each month (like today, had to be from the long side). The day of the week analysis has gone on forever...but since we seek opportunities from what is happening, it shouldn't make much difference....too many other factors involved. Don
To Lescor, I know you are a great record keeper and your previous comments were in regards to Mondays, but did you notice anything as to the 1st day of the month? ie: did the sells on the first day of the month tend to lean toward the losing side or did it matter?
One of my worst trades today was a short, TXN whooped me good! (When I saw the fill, I was certain it was worth at least .15, instead he took .20) That being said, I agree with Shreddog on this one, trading the OPG, we are providing liquidity, and hoping to profit on a short term basis. The recent data I have suggests that the first of the month is a time to be cautious on OO, take it for what it's worth. As always, good trading.
Listen to Mr. Schey....he's becoming a lot wiser in his old age, LOL. Seriously, day of week, not too big a deal for the opening... first of month...be cautious...tends to' be strong (seasonality). Don
or you can use my method... be sick as a dog the last day of february and the first day of march... looks like i dodged a few bullets... first day back...already blocking lots...
1 fill / 2000 shares / 1 long ... AES (100.00) - 1.1 / + .4 % could have scratched..but got tired of being played with by specialist...offering below bid on small lots and getting nothing...only to watch my price trade and then print lower... big bid shows up...gets pennyed by someone... offer full 2000 at big bid below current market...filled instantly by guess who...bid size never changes...trades up to breakeven...glad to be out... i need to watch this guy... :eek:
Only 1 fill today, 1,000 TXN for a nice winner. I cancelled my HON buy, when it seemed unusually late opening. I thought perhaps a news item that I missed. Turns out it would have been a small winner. I only took buys today, as the sells would have been below yesterday's close and we might still have first of month buying pressure. As it turned out, I would have had 3 sells, but they would have netted out about break-even.