Very impressive, I must say. Considering that the S&P has dropped something like 20% during the competition it is incredible that the top ten student programmers were able to return more than 50% in 7 weeks. I'll be sure to post a chart of the S&P during the competition when its all over but I think its clear that program trading can be a productive approach to any market, especially a bear market. In a broader sense, I think it is yet another vote of confidence for technical analysis (my market bible). Good luck everyone in the final three day stretch. If you are curious about how I'm doing just watch STI (recall my program is short something like 800 STI March calls). STI down, my account goes up. Of course there are other positions but that is by far the biggest. I didn't run my program today but I do intend to run it the next three days, I have to get back in the green after all!!
3 comments:
Hey Hunter,
yeah,this is one of the best example of technical analysis.As market fell from 740 to 690 levels without any fundamental reasons.You made good call by buying SPX puts(in real money!).
Thanks, yes I believe its the only way to consistently make money in the market.
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