but this article is explaining that unless you are selling short in the morning and covering at night, there are mostly negative returns for intraday trading, i.e. "pil(ing) in in the morning, and exit(ing) in the afternoon".
There are lots of firms and funds and floors that never hold overnight, but this research demonstrates that that is basically a statistically losing strategy. If you follow markets it's almost impossible to not notice that almost all the real action happens after hours, and the day's trading tends to "erase" whatever happened overnight. Bruce's research is hard to contradict, unless the data is wrong or his formulae or off.
Regional and wider exchange networks had existed in that region for several thousand years before millet is now believed to have been cultivated. The transformational nature of this discovery has more to do with our understanding of farming practices. As stated in the article, this site precedes the earliest known site where millet was presumably cultivated in that region by 500-1000 years.
If you read the publication linked there is a lot of textual evidence for millet production that goes back into the 3rd millenium B.C.E. The transformation here has largely to do with new methods of discovering what crops were grown where, and a shift in our understanding.
There are lots of firms and funds and floors that never hold overnight, but this research demonstrates that that is basically a statistically losing strategy. If you follow markets it's almost impossible to not notice that almost all the real action happens after hours, and the day's trading tends to "erase" whatever happened overnight. Bruce's research is hard to contradict, unless the data is wrong or his formulae or off.