SIRS —
I bring you news and advice. First the news.
Below is the hourly seasonality data for SPY for the month of May. As you can see, you’d be wasting your fucking time trying to catch intra day moves on any macro scale.
Last week the NASDAQ went up 7%, so it was green all the time. Even during those favorable conditions, the market proved to be LACKLUSTER after 11am and it only made sense to play the afternoons.
In conclusion, it makes an extraordinary amount of sense to sell everything you have in the morning before 10am, hedges and all, and then reload in the afternoon. You can start after lunch and doubled up into the close or bulk up on your shorts. Whatever the case might be, I find myself having an EASY time trading this tape in this manner. Last year I’d punch out 90 trades per day, rendering myself insane. Nowadays, I am executing between 15 and 30 trades per day and producing just as good, if not better, results — presently up 45% for 2022.
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Seems to be a common theme there, you’ve pounded the table for weeks and still rings true.