4 ms·
Today was a Friday. Markets usually sell off on the last day of the week before heading into the weekend; i.e. traders don't (usually) like holding positions f
by OzzyB 14y ago
Today was a Friday.
Markets usually sell off on the last day of the week before heading into the weekend; i.e. traders don't (usually) like holding positions for two days more than they have to.
I think it's important to factor this into any discussion of Facebook's trading debut.
I personally would be waiting to see who things fair next week/monday.
[addendum] I'm quite surprised the IPO was set for a Friday because of this.
- samstave 14y agoI almost think this was intentional. I think that Zuck has extremely savvy advisors. And I think he is rather shrewd himself. I would not be surprised it this thing triples next week.
- panarky 14y agoDo you have a source for your day-of-week hypothesis, or is it just your own intuition? The data I've seen show that Fridays finish higher about 52% of the time. Here are a couple sources: http://traderfeed.blogspot.com/2008/01/2007-stock-market-returns-by-day-of.html http://traderfeed.blogspot.com/2008/01/2007-stock-market-ret... http://www.equityclock.com/2010/02/16/best-day-of-the-week-to-trade-the-stock-market/ http://www.equityclock.com/2010/02/16/best-day-of-the-week-t...
- meric 14y agoI wonder what the data looks like if you control for market performance during the week. NASDAQ has been falling for several days. http://www.google.com/finance?cid=13756934 http://www.google.com/finance?cid=13756934 Separate note: Considering Facebook is up 10-20% from the previous month on second market while the broader market was down quite a bit, it didn't do that badly.