Tag: 52 week new high

The 52-week new highs on Friday rule

PRMX just reached its 52-week new high and at 5.00 (All-Time High) and closed at 4.92 last January 27,2017 — which is a Friday.
2017-01-29_152746.pngWe’ll be focusing on its 52-week new high since I am experimenting on this Friday rule I saw on the internet. The rule is really simple.

Rule number 1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy long and go home long for the weekend.

Rule number 2: Exit the long position on the opening the following Tuesday.

Rule number 3: If the market opens lower on Monday, exit the position immediately.

source: http://www.ino.com/blog/2010/10/a-perfect-weekend-for-the-52-week-new-highs-on-friday-rule/#.WI2Xcvl97IX

On the closing last Friday, I bought a few shares of PRMX to ride on and experiment how this rule goes. Come Monday or Tuesday, I will post a follow-up on this.