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Buzz and Banter

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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.

no positions in stocks mentioned
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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