Tread lightly. A lot of signals have been triggered on lower time charts, and LTC has diverged.
If Gox falls below 861 we are going a leg down. Might even be the so awaited final capitulation.
Ok. I don't suppose it will be the DIP THAT HAPPENS THIS TIME EVERY WEEK, would it?
Tomorrow there will be a weekend low and that will be the best time to buy. Next week will test new levels of resistance.
The "weekend dip" does not always happen. Not at all.
It has the last couple of weekends, the holiday weekends, which we are basically still in. I am actually a little more bullish for this weekend than the last two however.
The "weekend dip" myth has been around a long, long time.
And during the holiday it has happened. People taking advantage of low trading, skeptical about the rally, no new fiat, etc. etc. etc.
Anyway, it happened the last two weekends and it looks like it might be happening right now.
On a sample set of what, 3 or 4? Maybe a back test is in order. But I think I have seen this conversation before....
Saying that it happens every weekend is no worse than saying it doesn't happen more frequently on weekends given certain conditions.
What are you saying, specifically?
What did you not comprehend exactly?
You are saying that the market does not always go down on the weekend. Duh. That's an obvious truth to most of us I believe. However, the market is more likely to go down on the weekend than on any random weekday, a trend that has been evident the last 2 HOLIDAY weekends. Since this is another HOLIDAY weekend (imo) then there is a possibility that it will go down again.
Just ask Voodah - hell, he thinks its going to be a full capitulation. lol
I swear, I have extremists on both sides of me.
What I did not comprehend was why you went from stating the "weekend dip" as virtual fact to stating some meaningless, ambiguous statement that addressed nothing I said.
Based on your sample set of 2, I would go out on limb and say there should be no discussion of the "weekend dip." First, let's establish that such a thing exists, using a less pathetic data set.
That was your false assumption.
Let me state more clearly for you. The market on average does not perform as well on weekends.
If you want to disprove that then go fetch the data set of the last 26 weeks and show us otherwise.
You said, "I don't suppose it will be the DIP THAT HAPPENS THIS TIME EVERY WEEK, would it?" The suggestion was pretty clear. Then, I simply asserted that the "weekend dip" as a trading rule is a myth, and that your data set is lacking to make any claims on the subject -- that burden is on you, not me. Never mind that your data points follow a massive bull run and subsequent crash/correction. I suggested nothing about constants. That would be ridiculous. You said, "Its not a myth when it happens."
The relevant question that I was addressing is whether one should generally trade based on the "weekend dip." I would assert not. After all -- thank you for dickishly pointing out what we are all aware of -- this is about probabilities and risk/reward.
This condescension just makes you look like an asshat. Now I remember why I keep your posts hidden.