The Stock Market Works by Day, but It Loves the Night

Whats that I hear....FOMC special meeting......surprise rate cut......LOL

 

indeed it does,

 

Well its confirmed, CNBC said we already had our bear market in the fall of 2018. Three month bear market 10 year bull market.....Seems logical...pffftttt

 

Must be a surprise rate cut coming...lol

 

Ah yes, making money while I sleep....sweet! $$$$$$$ Buy the close for easy money.

 

Cash open.

 

ONNTSA

 

Everything is going well with the buy the close sell the open strategy. So easy a caveman can do it $$$$$$$$$$$$$$$$$$$$$$$$

 

You would be wize to try this during the summer. Buy the cash close sell the cash open.

 

I downloaded historical SPY from Yahoo Finance going all the way back to 1993. Backtested buying one share at close and selling back that share at open the next day. After 25 years, I netted 0% profit, not counting commissions and slippages.

To be exact:

Total cost of purchase: $788,966.24,

Total receipt of sale: $788,983.23.

Total profits: $16.99.

What am I missing? Where is the free lunch?