You need to learn to read and to think a little much better. Yes, since the beginning of this year, it has underperformed. But it has been ripping since the March 23'rd low. And over the long term, it is the best strategy:
Does anybody do it? If not, why? How did it perform from Oct 2018 to end of Dec 2018? Of course everything has been ripping since the March 23rd low. Because that was the low. If you bought at the March 23rd low, and held until now, the gain might even be higher? *shrugs*
How you've managed to avoid his ignore list thus far I've no clue. Impressive patience I guess. I think you like to hear yourself talk and arguing for the sake of arguing. Guy is trying to give useful data...
Only that they like pushing it up out of hours recently with much less interest in RTH I have zero predictive talents - that much should be clear from this thread!! Maybe they temporarily reverse the pattern since it's all a bit obvious now, and then they'll revert back too it soon enough
I was being sarcastic - it is actually a common pattern but the overnight moves have been larger than normal and the RTH hours lacking in good 2 to 3 hour swing trades. A great market for a proficient scalper, but for an intraday swing trader it can be difficult.
We've been seeing this "data" for years. This is nothing new. But for some reason, nobody has posted any actionable evidence that they have made money with the idea. I messed with it for a couple of weeks in a sim account, but could not be consistent with it, because as it was sim, I was not on the ball with it. Results were mixed, and 2 weeks of data was certainly not enough to draw any solid conclusions about it. I am more impressed with NQ's bottom calls, as of end of May last year. Forget the daily shit, he seems to know how to swing long on the long-term. That is more impressive than rehashing the older data.
It has performed admirably since the 1980's. Obviously there will be periods were it does not perform well. And there will be periods when it performs better than its average. You are a "baby with the bath water" type of person - something must be 100% proof against loss to you, otherwise it is not worth while at all. I do not know anyone specifically buying the close and selling the open, but I do know folks who will hold a close at the high overnight expecting a follow through higher high to sell into the next day. As far as funds, transaction costs, taxes, fees, etc. would be prohibitive. Most mutual funds get around that by a little known strategy called "buy and hold." And again we are left to wonder why for some, the obvious isn't obvious. He was on it in the past. And then I paroled everyone. Most of those who were on it then have violated parole and have been returned. This one is trying hard to return there as well.