StockFetcher Forums · Filter Exchange · Day of the week trade<< 1 2 >>Post Follow-up
313 posts
msg #87729
2/3/2010 12:25:08 AM

Two different points of view.

Here is Linda Rashke's response:

Definitely the best day-trading opportunity comes in the morning session - this is when you will get the most countertrend type of movement (swings in both directions). Also, morning reversals are more common then afternoon reversals as well. The great majority of daytraders tend to make most of their money in the morning session. Monday and Fridays are the lightest volume days of the week - so if I had to choose just three days to trade, it would be Tues, - Thursday. Next choice would be Monday - Wednesday.


From: Traders Laboratory

since 1953 S&P daily percentages of times market closed higher than previous day (1953- july 2005)

monday 47.2%
tuesday 51.2%
wednesday 55.8%
thursday 52.2%
friday 56.6%

74 posts
msg #87734
Ignore richo
2/3/2010 6:03:59 AM

If the market is up M-w watch for a pullback on thurs


7 posts
msg #87760
Ignore xvictorx
2/3/2010 2:12:13 PM


Depending on the price of the option, the call option delta and expiration date, I ususally use 1 ITM or at worse 1 OTM. Because 1 ITM delta is at .50 or better I can follow the stock movement and not worry about what the option is doing. Example: if the stock moves up $1.00, the call option with a delta of .50 should move up $0.50. This way I can trade high priced stocks with large daily price movements ($1.00 +) by buying low priced calls. Yes, this will work with puts if setup correctly for shorting.

By using all five filters (I only posted two) you can see the average high - close 1day ago range for each day of the week going back 45 days. If you look at Todays filter you can see todays high- yesterday close, last Wednesday, the Wednesday before, etc.. To get an idea about tomorrow (Thurday) numbers look at the 4 days ago filter. This will give you the range for the last nine Thurdays. As I mentioned in the previous post, the filters can be easily modified for open/high, high/low, etc., your choice.

I also use two other filters based on TRO stat filters, 10 and 100 day count, high above close 1 day ago at $0.25, 0.50 1.00 1.25 1.50 range. This will indicate my chances of hitting my desired stock movement.

Yesterday, I bought 10 ITM 65 calls of RIMM at $2.20 (Stock $65.65), sold today within 15 min of open at $2.60 (stock $66.xx). $0.40 = $40 per contract. 10 contracts = $400 initial risk $2200. I could made more but the market was looking like it was going south. I usually try for $.50 per contract for a stock that will statiscally move at least $1.00 (high - close yesterday)

I can post the other filters if there is interest. I hope this explantion is clear enough after studing the filter results.

7 posts
msg #87764
Ignore xvictorx
2/3/2010 2:59:54 PM

I should have waited ... Rimm 65 call up to $3.60 (+1.40 per contract)

4,577 posts
msg #87772
Ignore Eman93
2/3/2010 5:23:14 PM

I have a question about buying and selling options... I have done it on paper just fooling around... if you sell at Market price will your full order be filled? Or is just like the bid ask on stocks....

Will you always be filled on the bid price?


265 posts
msg #87773
Ignore trendscanner
2/3/2010 5:47:22 PM

I've traded options at Optionshouse and have always been filled immediately when buying at the ask or selling at the bid. If you're buying at the current bid or selling at the current ask, you might not get hit immediately.

671 posts
msg #87774
Ignore miketranz
2/3/2010 6:58:05 PM

Mondays over a 90 day period on the SPY closed up 100% of the time.You can use this pattern stand alone & make some decent money.You can't get better odds than that.BTW:This pattern did not come from a filter.Sometimes you just have to dig in and do things yourself........

3,833 posts
msg #87785
Ignore Kevin_in_GA
2/4/2010 8:34:42 AM

On Mondays, the ^SPX has been bullish for 12 of the last 13 weeks, and 19 of the last 21. Just look at the chart.

Equally predictable of late is that Thursdays will be bearish (and looking at the futures currently, this looks to be the case today as well).

StockFetcher Forums · Filter Exchange · Day of the week trade<< 1 2 >>Post Follow-up

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