I wonder who is trading when the markets are closed to the public?
Since 1993, if you bought SPY on open/sold on close each day, return would be -5.2%…but if you did opposite & bought on close/sold on open next day, return would be 568% (meaning more than ALL performance came in after-hours trading) Source: @bespokeinvest
China was supposed to begin its oil for gold backed yuan trading platform today. Look at the dollar chart over the past week. Conversely look at the massive paper suppression of the PMs. I wouldn’t be surprised to see this get real ugly, real fast.
So strange, gold is down $12 today.
JMO, but after all the low hanging fruit is gone I look for China to revalue gold.
China is the world’s largest net importer of oil.
The stock market has always been the flaming krap-o-la rigged thing it is today. As a close watcher it is rigged to the penny each and every day, by I would say ONE entity, but what that is is unknown (to me).
It is easily seen for example on an earlier post I did on my blog
https://thetruthonlydementia.blogspot.com/2015/07/sp-500-puppet-master-left-hand-of-evil.html
although they don’t use that method any more. It’s pretty sick stuff, as they said in Goodfellas “real grease ball stuff” except in white shirts.
That is quite a difference, but my guess is that for those w/o a seat on the exchange, they would have been better off buying and holding since they wouldn’t have to pay commission and fees for trading twice a day for 14 years. Big wheels keep on churning.
The question you need to ask is what would your return have been if you just bought and held since 1993? Why would anyone want to buy on close/sell at open every single day unless there was a huge edge from just holding during the same 25 yr time period.
Maybe cause the losses occur during trading hours?
The federal reserve quickly figured out that they didn’t need to spend $billions actively buying during market hours to juice the market when buying a small amount of thinly traded futures in late and early post and pre-market would do the same thing – trigger all the algos and bots to start buying instead of selling.
pro tip – the same is true in the other direction when they decide to flip the switch