The Web Site of Victor Niederhoffer & Laurel Kenner
Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter; a forum for us to use our meager abilities to make the world of specinvestments a better place.
Write to us at: (address is not clickable)
Victor Niederhoffer on Holidays
The summer holidays always seem a time for new beginnings and in the spirit of Copland, one notes the new highs of one month or higher in fixed income and dollar, and new lows in stocks and grains, and hypothesizes new horizons after the July 4 holiday. Similar reversals in fortunes for the individual stocks, but this must be tested.
Charles Pennington Comments
For individual stocks, there doesn't seem to be a big effect. I define "Losers" as the stocks in the S&P that return 5 percent less than the S&P over the previous 2 months, and "Winners" those that return 5% more than the S&P.
Over the next 2 months, here are the average results:
So the winners actually outperformed the losers by a hair.