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Strategies & Market Trends : Tech Stock Options
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To: Electric who wrote (32747)1/10/1998 10:04:00 PM
From: Patrick Slevin  Read Replies (2) of 58727
 
I just read Jim's reply and realized I missed something you said.

No, the stats don't suggest you should hold until the new moon. They only suggest that the days/time span suggest that is not a wise time to be long.

As a counter to what Jim puts forth...at least, what I think he is saying is that everyone believes that the market will react this way or that because of the lunar effect...I would have to disagree. I disagree first of all, because (for example) how many of you have even heard of this? Secondly, how many even know on what day a full moon occurs in any given month? Thirdly, how many will remember this next month?

Admittedly, this is arcane stuff. I know traders that trade using the Stock Market Almanac, or whatever it's called. One example is the last 3 days of the month and the first 2 of the following month do such and such. I don't even remember what it is. But there are 5 traders at Lehman that trade that way every month for their own accounts. 5 days a month....60 days a year...and made 22% on their money last year. When the system was explained to me by one of them on Friday I said "Oh sure! I remember that method!!". For the life of me I cannot remember it now. But I know (without having been told) they read it in the Almanac, which makes it a hell of a lot more popular a method than the lunar method.
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