3, 2 1. If friends, we are alive, are you doing Ernie here? And the zero dash DTE podcast today is Friday the end of a very interesting. We've made a new high, a new all time high today. Today was yes, a new all-time high made in the market earlier today. It wasn't necessarily breathtaking or anything like that.
It was just dip your toe into the beyond. Find out that maybe it's a little bit too cold up there and then pull back and maybe try again another day. So it was an uneventful all time high, although it is an all time high, I think it's so something on the order of the 50th all time high this year or something stupid like that, I don't know who keeps those types of records.
I don't know. But one thing is for certain is that there is a strategy that in this type of market would work very well in these consecutive all time high events. And it's almost become a meme. In fact, it is a meme. If you go and search it out, just look up this set of words and then meme, and you will find a treasure trove of memes around this.
And that strategy is affectionately known as buy the dip, buy the dip. Everyone says, buy the dip. Of course, we always had those fun memories of Jim Cramer saying, oh,
I don't know if he was saying. He just liked to say bye. And people like to hear him say it, but by the dip is a remarkable strategy. It's one that I've actually examined at in great detail over the years from a algorithmic and programmatic point of view. Often you're looking for patterns that seem to work.
And the pullback pattern in an uptrend is one of those patterns that works. Consistently, of course, it's conditional, it obviously wouldn't work in a secular downtrend. It's very difficult, but if you're in an uptrend, like we have been forever. And for some people, I believe that forever actually does mean forever.
I mean, they've, their entire career has been spent in an uptrend. They know no other, they experienced maybe a brief. A very, very brief bit of pain that lasted a millisecond in the pandemic crash. We recovered from that in a New York second, and then it was just straight up. And then by the dip about every month, it was a buy the dip in almost like clockwork.
As a matter of fact, you could have set your Rolex to the dip. Now the big question is, why does it work? And does it work for everything? And more importantly, does it work for what we do? And that is zero DTE trading where we trade or sell options on the very last day of exploration of those option contracts for the S and P particularly the E-mini S and P futures contract and the SPX, the index.
Would it work for us now, just from a, an asset point of view, if you just look at any stock chart, you can see very, very clearly that in the trend over while since March of 20, 20, about every month, or let's say that you will start with you step back and you look at the trend. The trend is just a straight line, straight line, like 45 degrees.
I guess, depending on how you fashion your chart, but let's say it's 45 degrees and about every so often on what seems to be a very regular pace. There's a little dip, maybe one, two, maybe 3% this past. Month. We had a dip that was a little bit bigger than most other dips. I think it went as much as 5%, but about 2% it would venture up, hit an all time high, pull back about 2% and then there would be a little.