1177.70 rather than the correct 1877.70.
Apologies all around.
A long way to a 1.9% profit.
Sometimes playing the percentages works. Sometimes it doesn't. Try to bet bigger on your winning hands.
On Tues. Oct 14 we posted "Quant Talk: What Happens to the Market When Both A Friday and the Following Monday Are Down 1%" at 5:30 am PDT with Monday's close highlighted and pointed out we expected a few more ticks down:
DJIA 16,321.07, still 40 points off Sept. 22's "Equities: How's About a Thousand Dow Points (to the downside)?", S&P 500 1874.74....No kidding. The market was flat on Tuesday and didn't bottom until 1820.66 on Wednesday, 3% lower but all's well that end's well because the Quant talk post concluded:
...21/23 times $SPY closed higher at some point of time over the next five trading days , with an average gain of 1.91%...Which from last Tuesday's close of 1877.70 gives us 1913.56.
1,897.32
10.56 last, close enough.We'll just forget the vomitus ride to get here:
Remember, this is after having avoided 960 Dow points of downside. Holy crap!
