The Smart Money Indicator suggests that the smart money trades at the end of the trading day once all of the days events have shaken out, while the dumb money trades at or near the open in reaction to the days news. We like to track the intraday action of the market over time. While were not totally on board with the Smart Money theory, we do like to see the market finishing the trading day strong. Buying in the final hour or two of the trading day means investors are comfortable owning shares overnight. A market that opens up strong and then drifts lower throughout the trading day is one wed prefer to avoid.
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