Yeah, I recall I did post it awhile back. Just can't recall when so was bored watching some 5 minute charts that were putting me to sleep so thought I'd post it again as food for thought. It was a very conclusive study with those results. I wondered what the results would have been if the bull and bear markets inbetween these periods were much different if figured separately. But then you get into what exactly was the bear market or bull market definitions. So best to cover everyday for several years to make the main point which is the importance of the open and closing prices "overall". Keeping it simple is always the best policy. The study did make the main point without complicating it. People do like to complicate things. Human nature.