The Weekend Seasonality and the Existence of Option Markets PDF Download
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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
Cet article présente une étude comparative de l'effet week-end aux Etats-Unis entre les firmes avec des options échangées sur les marchés organisés et celles sans. Quinze années de rendements boursiers journaliers (de janvier 1976 à décembre 1990) mesurés à partir des cours de clôture sont examinées. Les firmes avec des options ont des rentabilités moyennes plus faibles le vendredi et moins négatives le lundi. Ces résultats, bien que faibles, sont conformes à la thèse selon laquelle le marché des options devance le marché des actions et rend celui-ci plus efficient.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
Get Book Here
Book Description
Cet article présente une étude comparative de l'effet week-end aux Etats-Unis entre les firmes avec des options échangées sur les marchés organisés et celles sans. Quinze années de rendements boursiers journaliers (de janvier 1976 à décembre 1990) mesurés à partir des cours de clôture sont examinées. Les firmes avec des options ont des rentabilités moyennes plus faibles le vendredi et moins négatives le lundi. Ces résultats, bien que faibles, sont conformes à la thèse selon laquelle le marché des options devance le marché des actions et rend celui-ci plus efficient.
Author: Jay Kaeppel
Publisher: John Wiley & Sons
ISBN: 0470270438
Category : Business & Economics
Languages : en
Pages : 325
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Book Description
There is a seasonal bias to the stock market, and by paying attention to the seasonal market tendencies you can gain an edge in the stock market over the long haul. Seasonality offers a practical approach to investing and trading. What better way to learn how to employ seasonal systems than learning from Jay Kaeppel, a master in the analysis of seasonal trends? Kaeppel walks you through this phenomenon that continues to work consistently, providing you with his ultimate seasonal index to make the calendar work for you. Stock Market Seasonals provides a never-before-seen definitive guide that illustrates how to utilize a combination of four basic seasonal tendencies in order to maximize returns.
Author: Jake Bernstein
Publisher: John Wiley & Sons
ISBN: 9780471168119
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
a groundbreaking look at trading the markets with one of the most important forecasting tools available . . . "If you've ever wondered about the validity of seasonals or how to trade them, buy this book now!" --Glen Larson, Genesis Data Services "Jake does it again. This time his extensive research really leaps out as he makes seasonal trading easy to understand and a very useful tool for any commodity trader." --Jeffrey H. Fox, Fox Investments. Is there a "holy grail" of price prediction? Traders have long been in pursuit of one, and while a handful of strategies, techniques, and methodologies have proven noteworthy, the search continues for the ultimate forecasting instrument --if one does indeed exist. The theory and methods of seasonality may well prove to be a step in the right direction to this goal. In this unique new book, a leading seasonal trading analyst examines seasonality in-depth, elucidating the concise principles, numerous advantages, and enormous potential that make it one of the most important --and effective --methods currently available for targeting futures price trends. Over the years, considerable attention has been paid to the effects of interest rates, money supply, earnings, inflation, and other key factors on stock and commodity prices. Yet, the immense impact of seasonal price tendencies has been either grossly underestimated or completely ignored. Often overlooked, but equally significant, seasonality is based on the assumption that seasonal influences cause biases in the movement of market prices. Among its many advantages, seasonality allows the trader to formulate objective decisions founded on a logical, verifiable, and operational methodology, creating a backdrop of probable market trends in most time frames and in most markets, and providing historically valid input for use as an adjunct to other analytical methods and timing indicators. The essence of seasonality is found in its lengthy history and statistically testable methodologies. However, seasonal correlations are not 100 percent foolproof. Using seasonal data to time the market involves an unavoidable degree of subjectivity --unless you have a firm grasp of seasonal timing concepts and techniques. Now, in the first resource devoted exclusively to the subject, Jake Bernstein gives you the foundation necessary to implement this powerful tool effectively and with confidence. Balancing theory and practice, Bernstein provides a thorough, real-world understanding of seasonal timing concepts and techniques. Along with results of his own extensive research, he integrates the work of numerous market analysts, such as W. D. Gann, Art Merrill, Burton Pugh, Samuel Benner, and Yale Hirsch, among others, to create a pragmatic and highly functional analytical framework. With his accessible, comprehensive coverage of significant concepts such as seasonal spread relationships, key dates, and cash tendencies, you'll be able to discern seasonal patterns in monthly and daily cash and futures data. Once the basics are firmly in place, Bernstein leads you step by step through the essential process of formulating a seasonal trading program that incorporates important timing strategies and risk management tools. An ideal overview for any trader, investor, or analyst, this lucidly written and clearly organized resource emphasizes the validity and significance of seasonality. Jake Bernstein has compiled a comprehensive guide to the effective use of seasonal concepts and methods in the futures markets. This is a major work that belongs on the shelves of all serious traders.
Author: Jaesun Noh
Publisher:
ISBN:
Category : Forecasting
Languages : en
Pages : 282
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Book Description
Author: Jack D. Schwager
Publisher: John Wiley & Sons
ISBN: 1118859596
Category : Business & Economics
Languages : en
Pages : 723
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Book Description
The essential futures market reference guide A Complete Guide to the Futures Market is the comprehensive resource for futures traders and analysts. Spanning everything from technical analysis, trading systems, and fundamental analysis to options, spreads, and practical trading principles, A Complete Guide is required reading for any trader or investor who wants to successfully navigate the futures market. Clear, concise, and to the point, this fully revised and updated second edition provides a solid foundation in futures market basics, details key analysis and forecasting techniques, explores advanced trading concepts, and illustrates the practical application of these ideas with hundreds of market examples. A Complete Guide to the Futures Market: Details different trading and analytical approaches, including chart analysis, technical indicators and trading systems, regression analysis, and fundamental market models. Separates misleading market myths from reality. Gives step-by-step instruction for developing and testing original trading ideas and systems. Illustrates a wide range of option strategies, and explains the trading implications of each. Details a wealth of practical trading guidelines and market insights from a recognized trading authority. Trading futures without a firm grasp of this market’s realities and nuances is a recipe for losing money. A Complete Guide to the Futures Market offers serious traders and investors the tools to keep themselves on the right side of the ledger.
Author: S. A. Johnston
Publisher: John Wiley & Sons
ISBN: 0471446610
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
A fresh investment approach to an ever-changing market In this unique and engaging treatise on the art and science of speculation, expert S. A. Johnston combines the profitable elements of banking, bookmaking, and gambling-three other ways of making money with money-with trading, to provide readers with a fresh new approach to trading the market. Written by a trader for a trader, Trading Options to Win gives readers a framework for using logical analysis to uncover profitable opportunities that they would otherwise miss. Johnston develops a speculative method that traders can use to consistently find and manage profitable trades. He then backs his talk up by detailing three months worth of trades using his successful method. For investors looking to move beyond the realms of technical and fundamental analysis, Trading Options will be the guide of choice. S. A. Johnston is a systems analyst and designer by profession. His company, Software Systems, specializes in inventory optimization and control systems for business. Under the tutelage of Fredric B. Fitch and Richmond Thomason, he became the first graduate of Yale to receive a BA in logic.
Author: Stefan Palan
Publisher: Springer Science & Business Media
ISBN: 3642021476
Category : Business & Economics
Languages : en
Pages : 179
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Book Description
This book describes a laboratory experiment designed to test the causes and properties of bubbles in financial markets and explores the question whether it is possible to design markets which avoid such bubbles and crashes. In the experiment, subjects were given the opportunity to trade in a stock market modeled after the seminal work of Smith et al. (1988). To account for the increasing importance of online betting sites, subjects were also allowed to trade in a digital option market. The outcomes shed new light on how subjects form and update their expectations, placing special emphasis on the bounded rationality of investors. Various analytical bubble measures found in the literature are collected, calculated, classified and presented for the first time. The very interesting new bubble measures "Dispersion Ratio", "Overpriced Transactions" and "Underpriced Transactions" are developed, making the book an important step towards the research goal of preventing bubbles and crashes in financial markets.
Author: Murray A. Ruggiero
Publisher: John Wiley & Sons
ISBN: 9780471149200
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
Ein Überblick über die aktuellsten Technologien zum Aufbau einer Handelsstrategie: neuronale Netzwerke, genetische Algorithmen, Expertensysteme, Fuzzy logic und statistische Mustererkennung. Gezeigt wird, wie diese neuen Methoden in klassische Analysenverfahren integriert werden können. Auch Erläuterungen zur Prüfung und Bewertung existierender Systeme kommen nicht zu kurz.
Author: John B Guerard Jr
Publisher: World Scientific
ISBN: 9811222649
Category : Business & Economics
Languages : en
Pages : 817
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Book Description
This book introduces the readers to the rapidly growing literature and latest results on financial, fundamental and seasonal anomalies, stock selection modeling and portfolio management. Fifty years ago, finance professors taught the Efficient Markets Hypothesis which states that the average investor could not outperform the stock market based on technical, seasonal and fundamental data. Many, if not most faculty and investors, no longer share that opinion. In this book, the authors report original empirical evidence that applied investment research can produce statistically significant stock selection and excess portfolio returns in the US, and larger excess returns in international and emerging markets.
Author: Jeffrey A. Hirsch
Publisher: John Wiley & Sons
ISBN: 1118792718
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
Commodity Trader's Almanac is now Seasonal Sector Trades! Strategies identifying the best-performing seasonal trades for the first quarter of 2014 Seasonal tendencies and cycles provide a foundation for profitable trading. This edition of Seasonal Sector Trades contains trade ideas and strategies for the first quarter (Q1) of 2014. It identifies the best trades for each month based on historic tendencies and cycles. A special report is issued covering stocks, bonds, currencies, energy, metals, grains, soft commodities, and meats. Concise and to-the-point, the report describes monthly price tendencies for each market, alerting you to major trading opportunities. An accompanying strategy calendar shows you what to monitor during the beginning, middle, and end of each month. In addition to this information, daily exits and entries are provided for trades with the best historic performance. Backstopping the trade ideas are articles on the major trades of the month and in-depth analysis on the historic price patterns of the underlying market. The trading ideas and data allow you to compare current market conditions against historic tendencies and make informed trading decisions along the way. Includes in-depth analysis and data of the seasonal tendencies of all major financial and commodity markets Details trading tips and strategies to maximize profits from suggested trades Based on years of proven historical data The culmination of years of painstaking research, this quarterly guide will provide you with the historic knowledge to spot big trades unfolding in today's markets.
