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PureBytes Links
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Also check out "Are There Weekly Patterns in the Stock Market?" on Formula 7 page at guppytraders.com. Similar Formulas for checking this type of pattern.
http://www.guppytraders.com/Metastock%20Formulas/metastock%20formula%207.htm
Scott
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--- Begin Message ---
Actually, contrary to my first impression, it's not nonsense.
There are some solid stats behind this strategy, although it could
definitely use some tweaking.
I've put some MS code together that shows some interesting stats and
possibilities, and hope to put it all together for a possible article
in MSTT soon. http://www.metastocktips.co.nz/
jose '-)
http://www.metastocktools.com
--- In Metastockusers@xxxxxxxxxxxxxxx, "AA" <arnaouto@xxxx> wrote:
> brilliant !!!!!
>
> How many years of observation did it take you to come up with this
> BS?
>
> Don't ridicule please this forum with such nonsense......
>
> ----- Original Message -----
> From: "kimlarinc" <wallmann33@xxxx>
> To: <Metastockusers@xxxxxxxxxxxxxxx>
> Sent: Tuesday, February 15, 2005 11:11 PM
> Subject: [Metastockusers] Tip
>
> Turnaround Wednesday
>
> You won't find this term in the bibles of trading and investing. And
> you won't hear the folks on CNBC say "Turnaround Wednesday" like
> they refer to "January Effect" or "Earnings Season."
>
> They're missing the boat. After watching chart action for a good
> five years, we're convinced that Wednesday is a key reversal day for
> the market. When conditions are right, Wednesday is a turnaround
> day around 80% of the time.
>
> Simply put, if the market moves strongly in one direction on Monday
> and Tuesday, it will likely head in the opposite direction
> Wednesday. If the DOW is up 75 points Monday and adds 120 on
> Tuesday, odds are that the index will give back some points on
> Wednesday. Likewise, if the DOW sheds 100-200 points Monday-Tuesday,
> the index will gain ground Wednesday.
>
> We've watched this occur dozens of times. Why it occurs, we don't
> know. It could be as elementary as longs taking profits after
> several days of strength, or shorts covering winning positions after
> several days of weakness. It could be the complex influence of buy-
> sell programs launched by the big intuitions. It could be the
> alignment of the planets. All we know for certain is that Turnaround
> Wednesday happens, time after time.
>
> The key is the strong move Monday-Tuesday. If Monday is up and
> Tuesday is down, or vice versa, the action for Wednesday depends on
> other factors.
>
> So if you are planning to enter or exit a position, reallocate 401
> (k) mutual funds, etc, make sure to check the market action on
> Monday-Tuesday for signs of a Turnaround Wednesday. It can put you
> on the right side of a trend.
>
> http://clix.to/wallmann
--- End Message ---
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