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I put under test the whole Athens Stock Exchange (ASE), using code
from #2350, asking a loss of 20% during the next 20 days after an
evening star occurred.
The results are:
MARKET ASE
PERIOD FROM 03 JAN 2000 TO 01 JUNE 2001
(356 TRADING DAYS)
STOCKS ~350
EVENING STARS 38 STOCKS
20% LOSS IN 20 DAYS 37 STOCKS
SOFTWARE AMIBROKER (EXPLORE MODE)
CODE #2350
COMMENTS: THE UNDER EXAMINATION PERIOD WAS BEARISH IN GENERAL.
THE OCCURRENCE OF EVENING STARS IS POOR.
(38 CASES IN ~ (356-2)*350=124000 POSSIBLE)
WHEN HAPPENED, IT WAS CONFIRMED 97%
Dimitris Tsokakis
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