Monday 5 December 2011

Rally on Rumour, Sell on Summit

Doing the rounds over City Bloomberg's today:

"DAX PERFORMANCE BEFORE AND AFTER ALL 2011 EU RESCUE SUMMITS
  • SAVING PLAN FOR GREECE 3 FEB 2010  +2.4% 4 DAYS PRE THE SUMMIT.... -3.1% 4 DAYS POST THE SUMMIT
  • GREECE'S FIRST BAILOUT 3 MAY 2010 +0.1% 4 DAYS PRE THE SUMMIT.... -7.3% 4 DAYS POST THE SUMMIT
  • PACT FOR THE EURO 11 MARCH 2011 -2.5%% 4 DAYS PRE THE SUMMIT.... -4.6% 4 DAYS POST THE SUMMIT
  • PLAN FOR THE TRUE EUROPEAN ECONOMIC GOVT 16 AUG 2011 ... +6.8% 4 DAYS PRE THE SUMMIT.... -8.7% 4 DAYS POST THE SUMMIT
  • EU SUMMIT 26 OCT 2011 .. +4.3% 4 DAYS PRE THE SUMMIT.... -3.0% 4 DAYS POST THE SUMMIT"
Interesting. But as with most "dead certs" in the market, it will inveitably fail, just as the penny drops with retail investors.
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