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STOCKTRADER’SA L M A N A C2OO5Yale Hirsch & Jeffrey A. HirschJohn Wiley & Sons, Inc.The Hirsch Organization Inc. 184 Central Avenue Old Tappan NJ 07675www.hirschorg.com

Copyright 2005 by Yale Hirsch and Jeffrey A. Hirsch. All rights reserved.Published by John Wiley & Sons, Inc., Hoboken, New JerseyPublished simultaneously in CanadaEditor in ChiefEditor at LargeVice PresidentAssociate EditorData CoordinatorWeb DevelopmentGraphic DesignJeffrey A. HirschYale HirschJ. Taylor BrownRobert CardwellChristopher MistalNexgen (nexgenus.com)Darlene Dion DesignNo part of this publication may be reproduced, stored in a retrieval system, ortransmitted in any form or by any means, electronic, mechanical, photocopying,recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the1976 United States Copyright Act, without either the prior written permission of thePublisher, or authorization through payment of the appropriate per-copy fee tothe Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923,978-750-8400, fax 978-646-8600, or on the Web at www.copyright.com. Requests tothe Publisher for permission should be addressed to the Permissions Department,John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, 201-748-6011,fax 201-748-6008.Limit of Liability/Disclaimer of Warranty: While the publisher and author have usedtheir best efforts in preparing this book, they make no representations or warranties withrespect to the accuracy or completeness of the contents of this book and specificallydisclaim any implied warranties of merchantability or fitness for a particular purpose.No warranty may be created or extended by sales representatives or written salesmaterials. The advice and strategies contained herein may not be suitable for yoursituation. You should consult with a professional where appropriate. Neither thepublisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.For general information on our other products and services, or technical support, pleasecontact our Customer Care Department within the United States at 800-762-2974,outside the United States at 317-572-3993 or fax 317-572-4002.Wiley also publishes its books in a variety of electronic formats. Some content thatappears in print may not be available in electronic books.For more information about Wiley products, visit our Web site at www.wiley.com.ISBN: 0-471-64936-8Printed in the United States of America10 9 8 7 6 5 4 3 2 12

This Thirty-Eighth Edition is respectfully dedicated to:Bob PisaniA CNBC On-Air Stocks Editor since 1990, who reports on the Marketsfrom the floor of the New York Stock Exchange. Nominated twice for aCableACE Award, in 1993 and 1995, he is a voice of reason duringturbulent markets, providing excellent insight to viewers while conveyingmarket seasonality and recurring patterns with unmatched clarity.The Stock Trader’s Almanac is an organizer. Its wealth of information is presentedon a calendar basis. The Almanac puts investing in a business framework and makesinvesting easier because it: updates investment knowledge and informs you of new techniques and tools. is a monthly reminder and refresher course. alerts you to both seasonal opportunities and dangers. furnishes an historical viewpoint by providing pertinent statistics on past marketperformance. supplies forms necessary for portfolio planning, record keeping andtax preparation.We are constantly searching for new insights and nuances about the stock marketand welcome any suggestions from our readers.Have a healthy and prosperous 2005!Signifies THIRD FRIDAY OF THE MONTH on calendar pages andalerts you to extraordinary volatility due to expiration of equity and indexoptions and index futures contracts. Triple-witching days appear duringMarch, June, September and December.The BULL SYMBOL on calendar pages signifies very favorable tradingdays based on the S&P 500 rising 60% or more of the time on aparticular trading day during the 21-year period January 1983 toDecember 2003 (see Recent S&P 500 Market Probability Calendar2005, page 123). Market Probability Calendars for the NASDAQ, Dow and S&Pfor other time periods appear on pages 120-122. Other seasonalities near the ends,beginnings and middles of months; options expirations; around holidays; and othertimes are noted for Almanac investors’ convenience on the weekly planner pages.3

INTRODUCTION TO THE THIRTY-EIGHTH EDITIONWe are pleased and proud to introduce the Thirty-Eighth Edition of the Stock Trader’s Almanac.The Almanac provides you with the necessary tools to invest successfully in the twenty-first century.J.P. Morgan’s classic retort “Stocks will fluctuate” is often quoted with a wink-of-the-eyeimplication that the only prediction one can make about the stock market is that it will go up, down,or sideways. Many investors agree that no one ever really knows which way the market will move.Nothing could be further from the truth. We discovered that while stocks do indeed fluctuate, theydo so in well-defined, often predictable, patterns. These patterns recur too frequently to be the resultof chance or coincidence. How else do we explain that since 1950 practically all the gains in themarket were made during November through April compared to almost nothing May throughOctober? (See page 50.)The Almanac is a practical investment tool. Its wealth of information is organized on acalendar basis. It alerts you to those little-known market patterns and tendencies on whichshrewd professionals enhance profit potential.You will be able to forecast market trends with accuracy and confidence when you use theAlmanac to help you understand: How our presidential elections affect the economy and the stock market — just as the moonaffects the tides. Many investors have made fortunes following the political cycle. You can besure that money managers who control billions of millions of dollars are also political cyclewatchers. Astute people do not ignore a pattern that has been working effectively throughoutmost of our economic history. How the passage of the Twentieth Amendment to the Constitution fathered the January Barometer.This barometer has an outstanding record for predicting the general course of the stock market eachyear with only five major errors since 1950 for a 90.7% accuracy ratio.Whythere is a significant market bias at certain times of the day, week, month and year.Even if you are an investor who pays scant attention to cycles, indicators and patterns, yourinvestment survival could hinge on your interpretation of one of the recurring patterns found within thesepages. One of the most intriguing and important patterns is the symbiotic relationship betweenWashington and Wall Street. Aside from the potential profitability in seasonal patterns, there’s the purejoy of seeing the market very often do just what you expected.There has never been a losing “fifth” year since 1885 (page 126). Years ending in fivehave the best record, as the strongest bull markets tend to favor the middle years ofdecades. But 2005 is a Post-Election year and investors have often “paid the piper”(page 36) the first year of a President’s term. In addition the struggling economy,swelling federal deficit, high oil and commodity prices, inflation and interest rates arelikely to weigh heavily on stock prices.We are observing the potential formation of an ominous pattern — Three Peaks andDomed House. Developed by the late George Lindsay, this pattern, one of the mostextraordinary in history, has occurred at almost every major market top as it did in 2000.Presently, the major averages have traced out the Three Peaks half of the pattern withtops in February (January for NASDAQ), April and June — the crucial separatingdecline section is now potentially underway. That could put the Domed House top sometime in the first half of 2005. We’ll be monitoring to see if this pattern pans out in ourAlmanac Investor newsletter and at stocktradersalmanac.com.Barring an unforeseen exogenous event that causes the market to collapse in the restof 2004, by mid-2005 the bull cycle in play since the October 2002 bottom will likely bewearing thin and Wall Street as well as Washington will be wrestling with a host ofeconomic and geopolitical hurdles, making the prospects for 2005 flat to down.— Jeffrey A. Hirsch, August 9, 20044

THE 2005STOCK 3436384042444648505254565860622005 Strategy CalendarPrognosticating Tools And Patterns For 2005January AlmanacJanuary’s First Five Days An “Early Warning” SystemThe Incredible January Barometer (Devised 1972)Only Five Significant Errors In 54 YearsJanuary Barometer In Graphic Form Since 1950February AlmanacHot January Industries Beat S&P 500 Next 11 Months1933 “Lame Duck” Amendment Reason January Barometer WorksThe Fifth Year Of Decades — No Losers In 120 YearsMarket Charts Of Post-Presidential Election YearsMarch AlmanacProfit On Day Before St. Patrick’s DayMarket Behavior When White House Changes HandsPost-Election Years: Paying The PiperApril AlmanacThe December Low Indicator: A Useful Prognosticating ToolUnder Democrats 10,000 Grows To 279,705But Only To 78,699 Under The RepublicansDown Januarys: A Remarkable RecordMay AlmanacTop Performing Months Past 541/2 YearsStandard & Poor’s 500 & Dow Jones Industrials“Best Six Months” Still An Eye-Popping StrategyMACD-Timing Triples “Best Six Months” ResultsTop Performing NASDAQ Months Past 331/2 YearsJune AlmanacGet More Out of NASDAQ’s “Best Eight Months” With MACD-TimingDow Gains Most First Two Days Of WeekFirst-Trading-Day-Of-The-Month Phenomenon

114116118120121122123124126127128July Almanac2003 Daily Dow Point ChangesGridlock On Capitol Hill Is Best For The MarketsA Rally For All SeasonsAugust AlmanacFirst Month Of Quarters Is The Most BullishAura Of The Triple Witch — Quarters 1 And 4 BullishBut Down Weeks Trigger More Weakness Week AfterAlmanac Investing 101September AlmanacA Correction For All SeasonsMarket Behavior Three Days Before And Three Days After HolidaysMarket Gains More Eight Days A MonthsThan On All 13 Remaining Days CombinedOctober AlmanacEight Steps For Driving A Stake Through The Heart Of BureaucracyTrade Like A Hedge Fund: Best Investment Book Of The YearYear’s Top Investment BooksNovember AlmanacA Powerful New Tool For Almanac InvestorsMost Of The So-Called “January Effect”Takes Place In The Last Half Of DecemberTrading The Thanksgiving MarketDecember AlmanacWall Street’s Only “Free Lunch” Now Served At Year-EndJanuary Effect Now Starts In Mid-DecemberIf Santa Claus Should Fail To CallBears May Come To Broad & WallSector Seasonality: Selected Percentage PlaysNASDAQ Composite Market Probability Calendar 2005Dow Jones Industrials Market Probability Calendar 2005S&P 500 Market Probability Calendar 2005Recent S&P 500 Market Probability Calendar 20052006 Strategy CalendarDecennial Cycle: A Market PhenomenonPresidential Election/Stock Market CycleThe 171-Year Saga ContinuesBull And Bear Markets Since 1900

DIRECTORY OF TRADING PATTERNS & 148150152154155156157158159160A Typical Day In The MarketThrough the Week On A Half-Hourly BasisMonday Now Most Profitable Day Of WeekNASDAQ Days Of The WeekS&P Daily Performance Each Year Since 1952NASDAQ Daily Performance Each Year Since 1971Monthly Cash Inflows Into S&P StocksMonthly Cash Inflows Into NASDAQ StocksNovember, December, And January — Year’s Best Three Month SpanNovember Through June — NASDAQ’s Eight-Month RunStandard & Poor’s 500 Monthly Percent ChangesStandard & Poor’s 500 Monthly Closing PricesDow Jones Industrials Monthly Percent ChangesDow Jones Industrials Monthly Point ChangesDow Jones Industrials Monthly Closing PricesNASDAQ Composite Monthly Percent ChangesNASDAQ Composite Monthly Closing PricesBest & Worst Dow DaysBest & Worst NASDAQ DaysBest & Worst Dow WeeksBest & Worst NASDAQ WeeksBest & Worst Dow MonthsBest & Worst NASDAQ MonthsBest & Worst Dow & NASDAQ YearsSTRATEGY PLANNING & RECORD 91192Portfolio At Start Of 2005Additional PurchasesShort-Term TransactionsLong-Term TransactionsInterest/Dividends Received During 2005/Brokerage Account Data 2005Portfolio At End Of 2005Weekly Portfolio Price Record 2005 (First Half)Weekly Portfolio Price Record 2005 (Second Half)Weekly Indicator Data 2005Monthly Indicator Data 2005If You Don’t Profit From Your Investment MistakesSomeone Else Will/Performance Record Of RecommendationsIRA: Most Awesome Investment Incentive Ever DevisedTop One Hundred-Forty Exchange Traded FundsG.M. Loeb’s “Battle Plan” For Investment SurvivalG.M. Loeb’s Investment Survival ChecklistImportant Contacts

2005 STRATEGY CALENDAR(Option expiration dates ESDAYWEDNESDAY Year’s Day3456789101112131415161718Martin Luther King 1718192022232425262723456 1421Presidents’ DayFEBRUARYMARCHAsh Wednesday2817891011121314151617 St. Patrick’s Day 1819202122232425 Good Friday 26272829303112Saving3 DaylightTime 232425262728292345APRILMother’s Day30Memorial Day t closed on shaded weekdays; closes early when half-shaded.EasterFather’s Day

2005 STRATEGY CALENDAR(Option expiration dates encircled)MONDAYTUESDAYWEDNESDAY 1112131415161718192021222324252627282930311 SEPTEMBER 1234 Rosh Hashanah 56789JULYAUGUSTSEPTEMBEROCTOBERAUGUSTLabor DayJULYIndependence DayOCTOBER1213 Yom Kippur14151617181920212223242526272829Saving30 DaylightTime Ends311NOVEMBER2345678Election Day91011 Veterans’ Day 12131415161718192021222324 Thanksgiving 2526272829301 DECEMBER ChanukahDECEMBER26NOVEMBER10 Columbus Day 11Christmas

PROGNOSTICATING TOOLS AND PATTERNS FOR 2005For 38 years, Almanac readers have profited from being able to predict thetiming of the Political Market Cycle. To help you gain perspective in 2005, aPost-Presidential Election year, a valuable array of tables, charts andpertinent information can be found on the pages noted.THE FIFTH YEAR OF DECADESNo losers in 120 years. In every “fifth” year since 1885 the market hasadvanced. Bull markets have favored the middle of decades, giving yearsending in five the best record. Page 26.MARKET CHARTS OF POST-PRESIDENTIAL ELECTION YEARSIndividual charts for each of the last 21 Post-Presidential Election years,including winners. Page 28.MARKET BEHAVIOR WHEN WHITE HOUSE CHANGES HANDSDemocrats ousting Republicans have fared better in Post-Election years thanwhen the reverse occurred. The market will have challenges in 2005as either party deals with the recovery and security. Page 34.POST-ELECTION YEARS: PAYING THE PIPERGraphic presentation of the four-year cycle with Post-Election years highlighted, along with capsule comments on the record since 1913. Page 36.UNDER DEMOCRATS 10,000 GROWS TO 279,705BUT ONLY TO 78,699 UNDER THE REPUBLICANSDemocrats scored greater gains the first half of the 20th century.The parties were more evenly matched in the second half. Republicans wereless inflationary as most major wars (which produce inflation) began underthe Democrats. Page 42.GRIDLOCK ON CAPITOL HILL IS BEST FOR THE MARKETSOf all the possible combinations in Washington the market has performedbest with a Democratic President and a Republican Congress. Page 68.POLITICS AND STOCK MARKETS, THE 171-YEARSAGA CONTINUESStock prices have been impacted by presidential elections for 171 years,gaining 742.8% in second halves of terms vs. 227.6% in first halves.Page 127.10

DECEMBER 2004MONDAY20There has never been a commercial technology like this (Internet)in the history of the world, whereby the minute you adopt it,it forces you to think and act globally.— Robert Hormats (Goldman, Sachs)TUESDAY21Prosperity is a great teacher; adversity a greater.— William Hazlitt (English essayist, 1778-1830)Watch for Santa Claus Rally (page 116)WEDNESDAY22I invest in people, not ideas;I want to see fire in the belly and intellect.— Arthur RockTrading day before Christmas Dow up 8 of last 13,but last 3 weak (pages 86 & 110)THURSDAY23In nature there are no rewards or punishments;there are consequences.— Horace Annesley Vachell (The Face of Clay, 1861-1955)(Market Closed)FRIDAY24Successful innovation is not a feat of intellect, but of will.— Joseph A. Schumpeter (Austrian-American economist,Theory of Economic Development, 1883-1950)Christmas DaySATURDAY25SUNDAY26

JANUARYALMANACJANUARYFEBRUARYS M T W T F S12 3 4 5 6 7 89 10 11 12 13 14 1516 17 18 19 20 21 2223 24 25 26 27 28 2930 31S M T W T F S1 2 3 4 56 7 8 9 10 11 1213 14 15 16 17 18 1920 21 22 23 24 25 2627 28JANUARYDECEMBERFEBRUARYMarket Probability Chart above is a graphic representation of the Market Probability Calendar on page 123. January Barometer’s perfect record in odd-numbered years derailed by 2001 (2 Janrate cuts and 9/11) and 2003 (down ahead of Iraq war) Excluding 2001, last 13 PostElection years followed January’s direction Every down January on the S&P since1950, without exception, preceded a new or extended bear market, or a flat market (page44), including six down Post-Election Year Januarys January’s first five days tend todecline in a bear market and have a better record forecasting Post-Election years (page 14) November, December and January constitute the year’s best three-month span, a 4.9%S&P gain, 21.1% annualized (page 48) At this rate, 1000 since 1950 grew to over 35 million January NASDAQ powerful 3.9% since 1971 (page 54) “JanuaryEffect” now starts in mid-December and favors small-cap stocks (pages 106, 114).JANUARY DAILY POINT CHANGES DOW JONES INDUSTRIALSPrevious 1995199619971998MonthClose 3834.44 5117.12 6448.27 7908.251HHHH2Closed60.33 – 5.7856.7934.0416.62101.60—419.17 – 20.23——5– 6.737.59—13.95616.49—23.09 – 72.747——33.48 – 3.988—16.25 – 51.18 – 99.659– 6.06 – 67.5576.19 – 222.20105.39 – 97.1978.12—11– 4.7132.16——12– 3.03– 5— – 17.34 – 35.41 – 92.921623.8844.4438.4961.7817– 1.68 – 21.3267.73—18– 1.6857.45——19– 46.7760.33—H20– 12.78—10.77119.5721——40.03 – 78.7222—34.68 – 33.87 – 63.5223– 2.02 – 27.09 – 94.28 – 30.1424– 4.7150.57 – 59.27—258.75 – 26.01——26– 1.0154.92—12.2027– 12.45— – 35.79 102.1428——– 4.61 100.3929—33.2384.6657.5530– 25.9176.2383.12 – 66.523111.7814.09 – 10.77—Close 3843.86 5395.30 6813.09 7906.50Change9.42 278.18364.82 – 1.751219999181.43H——2.84126.92233.78– 7.21105.56——– 23.43– 145.21– 125.12– 228.63219.62——H14.67– 19.31– 71.83– 143.41——82.65121.26– �– 139.61– 359.58124.72130.61269.30——49.64– 61.1240.0231.33140.55——H– 162.26– 71.36– 138.06– 99.59——– 243.5421.723.10– 4.97– 289.15——201.6610940.53– 556.592001200210786.85 10021.50HH– 140.7051.90299.6098.74– 33.3487.60– 250.40———— – 62.69– 40.66 – 46.50– 48.80 – 56.4631.72 – 26.235.28 – 80.33– 84.17———— – 96.11H32.73127.28 – 211.88– 68.32 137.7793.94 – 78.19– 90.69————H– 9.35 – 58.0571.5717.16– 2.8465.1182.5544.01– 69.54————25.6742.21 – 247.51179.01 144.626.16 157.1410887.36 9920.00100.51 – 101.5020038341.63H265.89– 5.83——171.88– 32.98– 145.28180.878.71——1.0956.64– 119.44– 25.31– 111.13——H– 143.84– 124.1750.74– 238.46——– 141.4599.2821.87– 165.58108.688053.81– 287.82200410453.92H– 44.07——134.22– 5.41– 9.6363.41– 133.55——26.29– 58.00111.1915.4846.66——H– 71.8594.96– 0.44– 54.89——134.22– 92.59– 141.5541.92– 22.22—10488.0734.1520th Amendment made “Lame Ducks” disappearNow, “As January goes, so goes the odd-numbered year”

DECEMBER 2004/JANUARY 2005First trading day after ChristmasDow up 11 of last 13MONDAY27In the Value Line universe of 1,700 stocks,the 300 lowest-priced stocks as of year-end tend to go up 11% in January.— Victor Niederhoffer/Laurel KennerThe Education of a Speculator, Practical Speculation)New Lows perform better when selected lastsettlement day of year (page 112)TUESDAY28Lack of money is the root of all evil.— George Bernard Shaw (Irish playwright)Almanac Investor FREE LUNCH Menu of NewLows served to subscribers,visit stocktradersalmanac.com for detailsWEDNESDAY29What’s going on is the end of Silicon Valley as we know it.The next big thing ain’t computers it’s biotechnology.— Larry Ellison (Oracle CEO, quoted in The Wall Street Journal, April 8, 2003)THURSDAY30The greatest discovery of my generation is that human beingscan alter their lives by altering their attitudes.— William James (Philosopher, psychologist, 1842-1910)(Shortened Trading Day)Last day of year NASDAQ up 29 of 33, but down last 4Dow down 5 of last 8, with some big losersFRIDAY31Make sure you have a jester because people inhigh places are seldom told the truth.— Radio caller to President Ronald ReaganNew Year’s DaySATURDAY1January Sector Seasonalities:Bullish: Banking, Semiconductor;Bearish: Natural Gas, Utilities (page 118)SUNDAY2

JANUARY’S FIRST FIVE DAYS AN “EARLY WARNING” SYSTEMOf the 34 up First Five Days since 1950, 29 were followed by full-year gains for an 85.3% accuracy ratio and a13.8% average gain in those 34 years. Of the five exceptions, 1994 was a flat year and four were war-related:Vietnam military spending delayed start of 1966 bear market; ceasefire imminence in early 1973 raised stockstemporarily; Saddam Hussein turned 1990 into a bear; and the war on terrorism, instability in the Near andMiddle East and corporate malfeasance shaped 2002 into one of the worst years on record. The 20 down FirstFive Days were followed by 10 up years and 10 down (50% accurate).In 8 of the last 13 Post-Election Years the S&P 500 posted a loss for January’s First Five Days. Six werefollowed by full-year losses averaging -11.1%. 1993 rebounded 7.1% after the sluggish 1992 economy that factoredinto Bush Senior’s ouster and 1985 followed the trend of no losing “5” years (see page 126). Five Post-Election FirstFive Days showed gains and only one subsequent full year, 1973, was a loser. This was the start of the previousmajor bear — caused by Vietnam, Watergate and OPEC. The other four years gained 22.6% on average.THE FIRST-FIVE-DAYS-IN-JANUARY INDICATORChronological DataRanked By 997199819992000200120022003200414PreviousYear’s 8879.821111.92January5th YearChange21.8%16.511.8— 6.645.026.42.6—14.338.18.5— 0.815.6—17.4—29.731.519.1—11.51.112.325.8— 9.714.817.31.426.314.62.012.427.3— 6.626.34.57.1— 23.431.025.8—13.1— 1.59.10.111.845.020.38.534.14.57.7— 6.610.8— 3.0—14.3— 6.6—29.726.712.47.114.6—13.026.4—10.126.3— 9.72.6—11.514.8—11.4—11.826.31.1Based on S&P 500

JANUARYMONDAYJanuary first trading day Dow up 10 of last 153A good new chairman of theFederal Reserve Bank is worth a 10 billion tax cut.— Paul H. Douglas (U.S. Senator, 1949-1967)TUESDAYSecond trading day Dow up 10 of last 15often with larger gains than first trading day4Brazil is the country of the future and always will be.— Brazilian jokeWEDNESDAYAverage January gains last 34 yearsNAS 3.9%Dow 2.0%S&P 1.9%Up 24 Down 10 Up 23 Down 11 Up 22 Down 12Rank # 1Rank #2Rank #15Excellent firms don’t believe in excellence — only in constantimprovement and constant change.— Tom Peters (In Search of Excellence)THURSDAY6If you are not willing to study, if you are not sufficientlyinterested to investigate and analyze the stock market yourself,then I beg of you to become an outright long-pull investor,to buy good stocks, and hold on to them; for otherwiseyour chances of success as a trader will be nil.— Humphrey B. Neill (Tape Reading and Market Tactics, 1931)January’s First Five Days, an “Early Warning” System (page 14)FRIDAY7When I have to depend upon hope in a trade, I get out of it.— Jesse LivermoreSATURDAY8SUNDAY9

FEBRUARY/MARCHMONDAY28Companies which do well generally tend to report(their quarterly earnings) earlier than those which do poorly.— Alan Abelson (Barron’s)March first trading day Dow up 7 of last 9TUESDAY1Buy when you are scared to death; sell when you are tickled to death.— Market Maxim (The Cabot Market Letter, April 12, 2001)WEDNESDAYAverage March gains last 34 yearsNAS 0.3%Dow 0.9%S&P 0.9%Up 21 Down 13 Up 22 Down 12 Up 22 Down 12Rank #9Rank #5Rank #62When an old man dies, a library burns down.— African proverbTHURSDAY3He who knows nothing is confident of everything.— AnonymousFRIDAY4Marx’s great achievement was toplace the system of capitalism on the defensive.— Charles A. Madison (1977)SATURDAY5SUNDAY6

PROFIT ON DAY BEFORE ST. PATRICK’S DAYWe first published St. Patrick’s Day bullishness in the 1977 Almanac. Dan Turov, editor of Turov OnTiming, notes gains the day before St. Patrick’s Day have proved best, outperforming the days beforemany legal holidays for an average gain of 0.33% on the S&P. Irish luck, or coincidence?During the past 52 years, St. Patrick’s Day itself has posted just a wee gain of 0.14%. St.Pat’s 2004 landed on Wednesday in the middle of Triple-Witching Week. Both St. Pat’s and theday before gained ground, but the rest of the week was off (likely due to the Madrid train bombing a few days earlier) as the first correction of the year-plus bull market took hold.St. Patrick’s Day 2005 falls on Thursday making Wednesday, March 16th, a potential up day.But with the first Triple-Witching Week of the year tending towards weakness of late, we wouldexercise caution and perhaps jump in only for a quick trade on a selloff Tuesday, March 15th —depending on market conditions.Perhaps it’s the anticipation of the patron saint’s holiday that boosts the market and the distraction of the parade down Fifth Avenue that holds the market back — or is it the absent, and thenhungover, traders? Or maybe it’s the fact that Saint Pat’s usually falls in Triple-Witching Week.ST. PATRICK’S DAY TRADING RECORD (DAYS BEFORE AND AFTER)St. Pat’s% Change% ChangeS&P 500 St. Pat’s% Change% ChangeYearDay2 Days Prior 1 Day PriorDay or Next *St. Pat’s Day *Day After1953Tue0.19%0.15%26.330.42%– 0.34%1954Wed– 0.45– at0.970.3148.590.930.581957Sun0.07– 0.0543.85– 0.450.431958Mon0.12– 0.3142.04– 0.69– 0.361959Tue0.12– 1.0856.520.82– 0.231960Thu0.770.5554.96– 0.150.091961Fri0.301.0164.600.610.401962Sat0.21– 0.1770.85– 0.13– 0.271963Sun– 0.470.5065.61– 0.49– 0.211964Tue0.080.0079.320.230.081965Wed0.03– 0.1387.02– 0.13– 0.241966Thu– 0.570.5888.170.350.411967Fri0.951.0190.250.18– 0.061968Sun– 1.900.8889.590.55– 0.671969Mon– 0.67– 0.4098.250.260.241970Tue– 0.53– 1.0887.290.440.291971Wed1.140.50101.12– 0.090.071972Fri0.13– 0.23107.920.39– 0.311973Sat– 0.75– 0.51112.17– 1.21– 0.201974Sun– 0.09– 0.3798.05– 1.24– 0.841975Mon0.181.2286.011.47– 1.021976Wed– 1.051.12100.86– 0.06– 0.411977Thu0.550.19102.08– 0.09– 0.221978Fri– 0.260.4490.200.770.691979Sat0.150.83101.060.37– 0.551980Mon– 1.17– 0.18102.26– 3.011.801981Tue– 0.061.18133.92– 0.560.221982Wed0.77– 0.16109.08– 0.181.121983Thu0.35– 1.03149.59– 0.140.211984Sat0.411.18157.78– 0.940.681985Sun– 0.20– 0.74176.880.201.501986Mon0.281.44234.67– 0.790.471987Tue– 0.46– 0.57292.471.470.111988Thu– 0.090.95271.220.96– 0.041989Fri0.520.93292.69– 2.25– 0.951990Sat0.361.14343.530.47– 0.571991Sun– 0.290.02372.11– 0.40– 1.481992Tue0.480.14409.580.78– 0.101993Wed0.36– 0.01448.31– 0.680.801994Thu– 0.080.52470.890.310.041995Fri– 0.200.72495.520.020.131996Sun0.370.09652.651.75– 0.151997Mon– 1.830.46795.710.32– 0.761998Tue– 0.131.001080.450.110.471999Wed0.98– 0.071297.82– 0.651.442000Fri2.434.761464.470.41– 0.542001Sat0.59– 1.961170.811.76– 2.412002Sun– 0.091.141165.55– 0.05– 0.412003Mon3.450.16862.793.540.422004Wed– 1.430.561123.751.17– 0.13Average0.13%0.33%0.14%0.01%*When St. Patrick’s Day falls on Saturday or Sunday, the following trading day is used. Based on S&P 50032

MARCHMONDAY7An entrepreneur tends to lie some of

The Stock Trader’s Almanac . swelling federal deficit, high oil and commodity prices, inflation and interest rates are likely to weigh heavily on stock prices. We are observing the potential formation of an ominous

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Nautical Almanac Nautical Almanac Nautical Almanac Nautical Almanac Nautical Almanac 2021. Blank Page. The Nautical Almanac 2021 Compiled with NauticalAlmanac revision V2.5 - Mar 2020, using NOVAS version C3.1 - Mar 2011 The Almanac data have been produced with the JPL Ephemerides DE405

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THE 2011 COMMODITY TRADER’S ALMANAC CONTENTS 5 Introduction to the Fifth Edition 7 Pattern Recognition Improves Trading Results 10 2011 Strategy Calendar 12 January Almanac 14 Short S&P Into Early January Strength 16 Euro Peaks against U.S. Dollar 18 Wheat Turns to Chaff 20 Sweet End of January Long S&P 500 Trade 22 February Almanac 24 .

The Commodity Trader’s Almanac helps even a novice understand how commodity pricing works and offers great insight into investing and making money with oil, corn, and wheat. An invaluable tool.” — JON NAJARIAN, cofounder, OptionMONSTER.com “The Commodity Trader’s Almanac is the one

Air Almanac 2016 393 United States. Naval Observatory; United States. Naval Obeservatory.; Nautical Almanac Office Nautical almanacs--Periodicals 2015 CD: 3060 Book/CD ok 1 (8/2015) D213.7:2017/CD Air Almanac 2017 393: United States Naval Observatory. Nautical Almanac Office Nautical almanacs--Periodicals 2016 CD 3162: Book/CD ok 1 (7/2016) Y 4 .

cal Almanac Office HMNAO of the United Kingdom to produce The Astronomical Almanac, The Astronomical Al-manac Online, The Nautical Almanac, and The Air Almanac. Following the retirement of S. Howard in May 2003, Kaplan, S. Dick, and R. Miller served successive terms as Acting Chief of the NAO. An extensive search was conducted, and

The almanac translated here has no author and does not appear to be a specific copy of any of the Rasulid almanacs known. Two other texts in the manuscript were written in 1114/1702-1703, so this may be the approximate time for the almanac examined here. The earliest Rasulid almanac known is a chapter in the unique astronomical text 1 .

Artificial intelligence, or the idea that computer systems can perform functions typically associated with the human mind, has gone from futuristic speculation to present-day reality. When the AlphaGo computer program defeated Lee Sedol, a nine-dan professional master, at the game of Go in 2016, it signaled to the world that it is indeed possible for machines to think a bit like humans—and .