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Investing

How Leap Day Broke a 52 Year Trend (DIA)

Photo of Jon C. Ogg
By Jon C. Ogg Published
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On Feb. 28 we went back and took a look at all Leap Year trading days after the Feb. 28 trading day to look for any patterns.  We admit, this is something that we expected to be a fool’s folly but market statisticians will try to find a pattern in anything.  If you saw the movie ‘Pi’ you will get it that there are some guys out there who think there is a pattern in anything.  The one pattern we did find was that there had not been two ‘Leap Days’ in a row which had negative performance.  That changed on Wednesday after the DJIA (NYSE: DIA) fell more than 50 points.

Our thesis going in was that even there was a pattern that the gains were too small to chase after you factor in fees and commissions.  There is a theory that the market looks to cause pain to the most people under the same philosophy.  That ended up being the case yesterday as the DJIA now does have two consecutive ‘Leap Day’ losses.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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