Buzz and Banter
Earlier Toddo heard chatter regarding the performance of the NAZ Comp after 5 straight down days. Some were apparently suggesting that the next day is up on average 2%, 90% of the time.
My trusty side kick Mike wanted to put this to a quick test and this is what we found:
The NASDAQ has closed in the red the last 5 trading sessions. Since the end of 1997, this has happened 16 times. 4 of those times it closed down, 6 days in a row and 2 times it closed down 7 days in a row. The results WERE solid, except for those 6 instances (37% of time).
When the day following the fifth down day was up, the average gain was 3.84%. The best was +7.8%, the worst was +1.02%
Lastly, I am on vacation next week with the family. I have been on an adrenalin rush since joining my new family at FTN Midwest Research and am looking forward to a little sloooooooooww down. I am sure my wife and kids would agree.
Last night I had the pleasure of spending an hour with World Class Buc's fan and Car Pool Buddy Linda. In a short hour, I was reminded about what Minyanville represents...a town of friends who work, live and play together in harmony. Sure there can be different opinions, but at the end of the day --- if everyone was like fellow minyan Charlie, the world would be a lot more like Minyanville.
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