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They say that stocks go down during the day and up at night

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Re: They say that stocks go down during the day and up at night

#101

Post by yareally »

MuffinFlavored wrote: post #94
quantgenius wrote: post #78

Earlier quoted context omitted.

In the US the stock market officially opens at 9:30 and closes at 16:00 NY time every day. The day return is the return from the first trade (the official opening price but it would take too long to explain the the difference) at or after 9:30 to the last trade at or before 16:00 (the official closing price) and the night return is the return from the closing price to the opening price the next trading day.

premarket 7am NY to 9:29am NY regular market ends 3:59:59pm NY post market starts 4:00pm NY, ends 8:00pm NY correct? 8pm to 7am there’s no way to trade something like SPY and to be honest as a retail investor, can i even buy pre/post market on like, fidelity?

You can trade SPX (which is what SPY is based on) via IBKR after hours. SPX is only options though. They may have extended that to SPY as well now though, since SPY now has daily expiring options.

There's also S&P (ES), NASDAQ (NQ) and other futures. They trade 23/6, closing at 5pm EST on Friday and reopen on Sunday at 6pm EST. Otherwise, they're trading 23 hours a day, except between 5pm and 6pm EST Mon-Fri

Re: They say that stocks go down during the day and up at night

#102

Post by kerblang »

On a tangential note, I've been meaning to pursue a silly hypothesis that you could buy cryptocurrency low on mondays and sell high on weekends, because that's when recreational gamblers gamble most - an extension of pandemic-bubble thinking. Just wondering if anybody ever graphed it out...

Re: They say that stocks go down during the day and up at night

#103

Post by brookst »

malshe wrote: post #88
evrydayhustling wrote: post #62

Earlier quoted context omitted.

Add to all of these that the return is uninvestable, so the market cannot eliminate the arbitrage. 1016x over 30 years is a gain of less than 0.001% per trading day. You would have spent much more than this through fees and market impact to buy and sell the stock each day, especially at any real volume. The market is full of uninvestable or tiny capacity trades like this. A reliable pattern gets created by trading fl…

There are so many amazing profitable trading strategies if one doesn't account for the transactions costs!

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Re: They say that stocks go down during the day and up at night

#104

Post by toyg »

TheCoelacanth wrote: post #80
toyg wrote: post #55

Earlier quoted context omitted.

> You'd need six people if trading was round the clock, and those people aren't cheap. That's not a good argument. If there were more openings for that kind of position, more people would apply, and average remunerations would get lower. The real problem is that this would effectively distribute wealth (and access to wealth) more widely, and the ruling classes can't have that as a matter of principle.

Higher demand leading to lower prices? That's an interesting hypothesis.

It's not a hypothesis, it's how the mass-market works. Take computation: as demand rose and rose, prices fell and fell. And yes, the education and career systems have commonalities with manufacturing.

Re: They say that stocks go down during the day and up at night

#105

Post by MuffinFlavored »

yareally wrote: post #101
MuffinFlavored wrote: post #94

Earlier quoted context omitted.

premarket 7am NY to 9:29am NY regular market ends 3:59:59pm NY post market starts 4:00pm NY, ends 8:00pm NY correct? 8pm to 7am there’s no way to trade something like SPY and to be honest as a retail investor, can i even buy pre/post market on like, fidelity?

You can trade SPX (which is what SPY is based on) via IBKR after hours. SPX is only options though. They may have extended that to SPY as well now though, since SPY now has daily expiring options. There's also S&P (ES), NASDAQ (NQ) and other futures. They trade 23/6, closing at 5pm EST on Friday and reopen on Sunday at 6pm EST. Otherwise, they're trading 23 hours a day, except between 5pm and 6pm EST Mon-Fri

Who/what is able to trade equities specifically (like SPY the ETF, or any of its underlying components like AAPL, META, etc.) pre-market and/or post-market?

Re: They say that stocks go down during the day and up at night

#106

Post by 300bps »

malshe wrote: post #88
evrydayhustling wrote: post #62

Earlier quoted context omitted.

Add to all of these that the return is uninvestable, so the market cannot eliminate the arbitrage. 1016x over 30 years is a gain of less than 0.001% per trading day. You would have spent much more than this through fees and market impact to buy and sell the stock each day, especially at any real volume. The market is full of uninvestable or tiny capacity trades like this. A reliable pattern gets created by trading fl…

There are so many amazing profitable trading strategies if one doesn't account for the transactions costs!

…as well as the unavailability of someone to take the other side of the trade and a million other reasons.

There are literally thousands of arbitrage experts working 10 hour days looking for true arbitrage opportunities. As a result they’re quite rare.

Re: They say that stocks go down during the day and up at night

#108

Post by yareally »

MuffinFlavored wrote: post #105
yareally wrote: post #101

Earlier quoted context omitted.

You can trade SPX (which is what SPY is based on) via IBKR after hours. SPX is only options though. They may have extended that to SPY as well now though, since SPY now has daily expiring options. There's also S&P (ES), NASDAQ (NQ) and other futures. They trade 23/6, closing at 5pm EST on Friday and reopen on Sunday at 6pm EST. Otherwise, they're trading 23 hours a day, except between 5pm and 6pm EST Mon-Fri

Who/what is able to trade equities specifically (like SPY the ETF, or any of its underlying components like AAPL, META, etc.) pre-market and/or post-market?

Anyone that uses IBKR as their broker can trade what I mentioned above pre/post market (and some cases overnight). IBKR is a retail broker. I use them, for example. Most brokers in the US let you trade common stock before and after market hours, even ones like webull. That said, not every broker has the same pre/post market trading hours, but the better ones let you trade almost all day and night depending on the underlying equity.

https://www.interactivebrokers.com/en/?f=%2Fen%2Ftrading%2Ft...

https://ir.cboe.com/news-and-events/2021/06-15-2021/cboe-ext...

https://www.reddit.com/r/options/comments/xr3gqb/where_can_i...

Re: They say that stocks go down during the day and up at night

#109

Post by unregistereddev »

MuffinFlavored wrote: post #105
yareally wrote: post #101

Earlier quoted context omitted.

You can trade SPX (which is what SPY is based on) via IBKR after hours. SPX is only options though. They may have extended that to SPY as well now though, since SPY now has daily expiring options. There's also S&P (ES), NASDAQ (NQ) and other futures. They trade 23/6, closing at 5pm EST on Friday and reopen on Sunday at 6pm EST. Otherwise, they're trading 23 hours a day, except between 5pm and 6pm EST Mon-Fri

Who/what is able to trade equities specifically (like SPY the ETF, or any of its underlying components like AAPL, META, etc.) pre-market and/or post-market?

Any investor can. If the option is not available to you, contact your brokerage to ask about it. Many (most?) brokerages require signing a waiver confirming that you understand the additional risk posed by trading in low-volume pre- and post-market yours.

Re: They say that stocks go down during the day and up at night

#110

Post by olalonde »

kerblang wrote: post #102

On a tangential note, I've been meaning to pursue a silly hypothesis that you could buy cryptocurrency low on mondays and sell high on weekends, because that's when recreational gamblers gamble most - an extension of pandemic-bubble thinking. Just wondering if anybody ever graphed it out...

Almost the opposite effect exists: Bitcoin returns on Mondays are significantly higher than those on the other days of the week[0].

[0] https://www.sciencedirect.com/science/article/pii/S154461231...

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