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An Analysis of the Double 7s Strategy [Premium Articles]

In this post I analyze the "Double 7s Strategy", originally revealed in the book Short Term Strategies that Work: A Quantified Guide to Trading Stocks and ETFs, by L. Connors and C. Alvarez. The backtesting results indicate that this popular and supposedly simple strategy has deteriorated significantly since publicized. I list a few possible explanations as to why the strategy has deteriorated at the end of the post.