When I bought some stock at the Open and that turned out to be the Low for the day, I figured I should investigate how often that happens, and what additional drops might occur throughout the day and ...

>The spreadsheet, please?
Patience.
So:

• I download 10 years worth of price data
• Identify the days where the price drops from previousClose (that'd be yesterday's Close) to Open (that's today's Open).
• See what additional drop occurs, to the Low (from today's Open to today's Low).
• Count the number of these additional drops in each interval ('cause nico found I don't count good).
• Stick all that info in a gaggle of charts.

Click on the picture to download the spreadsheet.

See the red rectangles?
It says that, for GE stock, if it opens down (about) 1.0%, then it will drop another 1.3% (on average) and that's an average over 33 occurrences. **

>It will drop? Don't you mean it has, in the past 10 years?
But the future is a replica of the past ... isn't it?

Here's a few more:

** I've changed the spreadsheet so it shows percentages:

Price RISE: Close-to-Open

It occurs to me that the asymmetry in that spreadsheet is unsettling so ...

>Asymmetry?
You know, looking only at days when the price decreases and ignoring days where it increases, so I ...

>You change the spreadsheet, right?
Stop interrupting me!

Yes, I changed the spreadsheet so you can see both. Just click on which you want.

For example:
 

>That's it?
That's it.

>But will that scheme work? I mean, can you make any money?
Hmmm ... good question.

World's Best Buy & Sell Ritual

Try this to see if'n y'all do better than Buy & Hold::

Click on the picture to download the spreadsheet.

>Hey! It works!!
Try changing the Down and Up percentages in cells N3 and O3 ... then come back and say that again.