Day trading as an alternative investment strategy has matured in recent decades with profits available in both bear and bull markets. However, individual day valuations have become increasingly volatile despite a regular and predictable annual supply of tradable days.
The most valuable day in terms of market capitalisation is currently September 11th, but title to this day is the subject of an ongoing legal dispute between the US Govt and Osama bin Laden. This dispute has been referred to the military pending a final decision. The second most valuable day on Western markets is Dec 25th, but that’s currently owned by the pope and he won’t sell. In general the catholic church has almost cornered the market in day trading with its centuries-old campaign of purchasing and setting aside days for the exclusive use of saints. Another day that could potentially generate large profits is New Years, however as markets are closed for New Year only the most optimistic (or reckless) investors would attempt trading on or in this day.
There are, however, still many days that are actively traded on the world markets. These days are being traded quite actively, but the market is volatile and margins are low. Low margins and volatility need not deter the adventurous investor though, as the emergence of orthodox markets in the former Soviet Union, where days are denominated in Julian units, can provide a hedge against potential losses in the Gregorian zone.
In the Northern hemisphere days in summer tend to command higher prices than colder winter days, with the reverse being true down under. Sundays and public holidays will attract a premium, but Tuesdays at the beginning of the month remain the least attractive and thus are more suitable for the impoverished investor. The day trading market place is almost exclusively the domain of private individuals since institutional investors prefer the bulk capabilities of week and month trading.
Days may also be traded on the futures market, but after George W Bush was selected as president by the supreme court the value of future days has dropped dramatically along with one’s chances of surviving to see them. This fall in the value of future days has matched the recent slide in value of almost everything else from the US dollar to Tony Blair’s credibility.
(first published 11/12/2002)