Weekday effect - Is there any truth to this pattern?

[Blik]

In Busetti, pg 286, he states that there is a pattern that the South African market displays, where price returns on Monday being significantly negative on average, then climbing to a peak on Wednesdays before subsiding on Fridays. Has anyone found this patter to be true. It certainly appears to be the case this week for my portfolio.

[#2]

maybe but I have found buying friday about 13h00 to 14h00 to sell by Tuesday/Wed makes me the best profits then again I have had extremely fast and busy trading mondays as well in the last little while. so depends

[#3]

I believe the pattern to be generally true

[SimonPB]

thing is .. can you make money from this alleged trend ??

[#5]

Also, if these regular patterns exisited would not everyone be trading them, thus making them less regular?

[john_1]

No... if everybady traded them it would make them more regular

[NJ_1]

That is not correct.

[#8]

same trade patterns more people trading, thus more money into the pattern, bigger moves/changes thus pattern wouldbe less regular. Similar to a short squeeze but now over a longer periode.... pattern changes

[#9]

The JSE's diet isnt very rich in fibre. It will eat YOU for breakfast if you dont pasop.