Who is waiting for the weekend effect?

[zby]

Will there be a weekend effect this time or not?  Depends on how many people wait for one to buy cheaply.  My intuition says that there are too many of them this time.  When all of them try to buy on weekend - then we might have a reverse weekend effect.  Just a little speculation

[The_Duke]

Will there be a weekend effect this time or not?  Depends on how many people wait for one to buy cheaply.  My intuition says that there are too many of them this time.  When all of them try to buy on weekend - then we might have a reverse weekend effect.  Just a little speculation

There is no weekend effect. Please look on the historical graphs over the post 3 months, cound the weekends where the price went down, count the weekends where the price went up.

[Elwar]

The last time we had the weekend effect, the next weekend it went up.

After the 4th of July weekend when there was a 3 day weekend like labor day and the price went down, the next weekend went up.

I look forward to pulling out before the Thanksgiving weekend. That will be a good money maker. (unless someone creates an easier way to deposit $ to the exchange before then)

[Stephen Gornick]

There is no weekend effect.

You can't be serious.   Have you run the numbers?  I have.  This chart shows this happening as well.
 - http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-07-07zeg2011-09-09ztgSzm1g10zm2g25

Timing the trades is difficult, but there definitely is a pattern where the exchange rate is significantly lower (e.g., 5 to 10% and more) on Saturday evening (EDT) than it was the preceeding Wednesday evening/Thursday morning.

The rule of thumb for taking advantage of the "weekend dip" is: If the weekly high on Wednesday evening / Thursday morning is lower than the previous weekly high (as we have right now), then more often than not a weekend dip occurs so sell at that time.  Then wait until mid-day Saturday and watch for the price to head back up -- though don't panic, it may continue dropping throughout the weekend, until Monday or Tuesday even.   But once it starts to head back up, buy back what you sold.  Profit.  And repeat if the criteria are in effect the following week as well.

Now, of course, there is no guarantee this works and also once enough trading is following this strategy those traders will get burnt.  That appears to already be happening, ... to beat the  "Wednesday evening/Thursday morning" selling you now probably need to start selling Wednesday morning.

[Spekulatius]

I didnt make a fully empirical analysis, just skipped through the last 4 month of the course, but I found the majority of thursdays being bear days with mostly continued course decrease on fridays and saturdays. Sundays were mostly positive, as well as mondays.
You can go through it and make that observation yourself.

P.S.: June, 9th the day the bitcoin bubble burst was a thursday....

[Minsc]

What is Wednesday?

[Elwar]

What is Wednesday?

[Minsc]

Help me finish this parody http://www.directlyrics.com/rebecca-black-friday-lyrics.html


(Yeah, Ah-Ah-Ah-Ah-Ah-Ark)
Oo-ooh-ooh, hoo yeah, yeah
Yeah, yeah
Yeah-ah-ah
Yeah-ah-ah
Yeah-ah-ah
Yeah-ah-ah
Yeah, yeah, yeah

7am, waking up in the morning
Gotta go online, gotta check MtGox
Gotta cancel my buy order, gotta watch the price drop
Seein’ everything, the time is goin’
Tickin’ on and on, everybody’s selling’
Gotta get down to the bottom point
Gotta catch the lowest point, before an upswing

Kickin’ in the computer chair
Sittin’ watchin MtGox live
Gotta make my mind up
Which bid should I make?

It’s Thursday, Thursday
Bitcoin price goes down every Thursday
Everybody’s lookin’ forward to the weekend price swing
Thursday, Thursday
Bitcoin price goes down every Thursday
Everybody’s lookin’ forward to the weekend price swing

Sellin’, sellin’ (Yeah)
Sellin’, sellin’ (Yeah)
Fun, fun, fun, fun
Lookin’ forward to the buy back

[im3w1l]

There is no weekend effect. The bots never sleep and now they seem to have figured out their liquidity levels to get through the weekend...

Speak for yourself... My bot sleeps at night.

[bitcon]

looks like the weekend effect is getting here a little early.

[iprivately]

I bet night and weekend up/down ticks are related to SR market place