Results: S&P prediction - 4680 ; S&P actual value - 4682
Competition open for week 6, jump in!
The competition is officially open for week 6/10. Get in, have your say on our 5 indicators and 4 stocks, and keep pushing for that $1000 prize! The leaderboard is updated within the app, check to see where you’re at.
Another incredible week is behind us. Even though the market went down, the BASON still delivered its standard accuracy. 8 out of 9 indicators were called in the right direction (BTC the only one falling short of expectations), and with almost unbelievable accuracy.
Just look at the S&P500. Our target value was 4680, it ended up at 4682 (a margin of error of only 0.04%!).
The others were also incredible, all successfully predicted to go lower except the T-Bill yields, which were anticipated to go higher. The Dow prediction ended up with a 0.69% margin of error, oil prices had a 0.38% error, and all four stocks were called in the right direction (predicted to end up lower), three of which, AAPL, GME, and AMC were around 1% margin of error.
Therefore, whether the markets go higher or lower, the BASON will correctly predict their direction.
The most interesting movement last week was, of course, TSLA, anticipated to go down from its all-time highs in the wake of Elon Musk beginning his $10bn selling spree. The price went down even further than anticipated. We called it at $1084, falling down almost $100 from the Tuesday open, but it ended up even further down, at $1033. Buying puts even on Wednesday (when we gave the prediction to our competition participants) would have been a profitable strategy.
Return at 65% for the week!
In terms of collected profits on the trading strategy, last Thursday evening we told you what we bought the day before:
As per these predictions, we again used the usual iron condor for the SPY 12/11, at 462/463 to 471/472, selling 10 contracts for an immediate $400 gain. We get to keep the $400 if the price remains within this narrow corridor upon expiry on Friday.
…we’ve followed our prediction of a rebound and bought an in-the-money SPY 12/11 call at $460 strike, so we’ll see where it takes us.
In both cases, profits were collected. The SPY iron condor delivered the expected $400 profit, while the calls (following an expected rebound from Tuesday’s and Wednesday’s lows) delivered $550 for one SPY call that cost us $1400. This makes our return stand at around 65% for the week. Not as much as in the weeks before, but not bad either, especially since this was a gain that happened during a slightly slower S&P rebound.
Overall, the earnings stand at just over $5,000 for the first 5 weeks. Thank you BASON, and a big thank you to our users who will be reaping those rewards at the end of the competition!
So stick around, participate in our survey competition regularly to get this info before others get it, and try to make some profits from it.
NOTE: Remember, by participating in the competition and leaving your email in the user profile, you get our predictions before everyone else (on Wednesday morning). Leaving your email is the only way for us to contact you. If you want it, ofc.
DISCLAIMER: This prediction survey is still in its testing phase. Neither the survey nor its results act as investment advice of any kind. The results of the survey need not correspond to actual market preferences or trends, so they should be interpreted with caution. Oraclum bears no responsibility for your investment choices based on these predictions.
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