Friday, July 23, 2004

Fun with statistics (use at your own risk):  during its history, whenever the Nasdaq 100 tracking stock (QQQ) closed down more than 1.5% on a summer Friday (like it is on track to do today), it gapped up on Monday 9 out of 13 times, with an average gap of +0.5%.  However, that Monday actually closed the day DOWN 0.6% on average, with only 5 being positive.  Meaning, when we saw a rather vicious summer Friday selloff, QQQ more often than not gapped up on Monday, but it faded and closed lower most of the time.  Just something to keep in mind... 12:40:39 PM