Ep. 502: Efficient Market Thinking with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Mystery of Baschley
My theory was based upon an observation which I made accidentally. It turns out that there are two different shapes of this distribution, one which goes this way and the other in a joint shape. The data represented to be ideal fashion by pure change is not what it seems. Markets stop trading, trading stops, and then resumes a different value. Do you take this big enormous jump as part of the process, or do you say it's an act of God, depending upon different rules? If you say it’s an act ofGod, it fits in Baschley, if you wish - because you have put all the big events under the carpet.
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