Strategy Central

[FreeMarkets]

This is a little known fact, but for most trading vehicles more than 100% of the gain happens overnight (from close to open). That means that, on average, stocks drop during the day (open to close) and go up overnight (close to open). The only exception is Wednesday, which is an up day on average. This was even true during the bull market of the 90's.

That was a jaw-dropper when I heard it and back-tested it to verify that it was indeed true.