Thanks Tom, I did some fiddling and went back to August 14th to collect some closing prices of ETFs that looked like they might be going up and put them in a spreadsheet with the closing prices today just to see how it would work. Wow! Not a ton of money over the ten days, $105.38 after commissions, but annualized it came to ~15%/year. A capture of price about an hour before the market closed did much better, $217.95, ~35%/year.
This matches what I've seen many times, the prices tend to be at their lowest around 10 to 11:30 and at their highest around 2 to 3 EST.
Using this tool may help select buying/selling prices to get a bit more edge with GTC orders. Yeah, it may only be a few pennies but it might be enough to pay the commissions.
Anyone want a copy of the spreadsheet, drop me a line at 60e20f21@opayq.com
Best,
Allen
