Can you do another one? Buy on the close and sell next morning (open)? With and without the MA....Should be interesting....
Given the way that opens & closes are printed in Yahoo for various indices, I went to Nasdaq Composite (^IXIC) historical info to get a better picture. Comparing these two periods, looks like the Golden Era for overnight trading was somewhere between 5 & 10 years ago. But it's still superior. I did the 20ma roll days for the 5-year period only, and the 20ma's are of the daily open prices (overnight closes). Perhaps the best overnight method over the past 5 years has been to just buy the close and sell the open every single trading day in a brain-dead manner. Since I'm using ^IXIC here, I can't rightly do a final comparison between the likely best overnight method (buy close & sell open) and the liekly best market-hours method (sell EOD before every 20ma roll day).
10 year period from 3/15/1997-3/15/2007, using ^IXIC (Nasdaq composite).
simple buy & hold, price grew from 1265.17 to 2371.02..................1105.85 pts.
brain-dead~ buy every close and sell every open............................7179.46 pts.
5 year period from 3/15/2002-3/15/2007, using ^IXIC (Nasdaq composite).
simple buy & hold, price grew from 1868.3 to 2371.02.....................502.72 pts.
buy/sell at end-of-overnight upon overnight's print of a 20ma roll....286.91 pts.
buy/sell 1 day prior to such overnight prints with 20ma rolls.............775.19 pts.
brain-dead~ buy every close and sell every open.............................832.24
In any case, buying & selling end-of-session (day or night) upon the occurance of a 20ma roll, with any frequency, has got to be a very bad idea. Those are probably the epicenters of panic price movement in most cases.
