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On October 2, 2025,
(TSM) closed at a 0.12% decline with a trading volume of $2.95 billion, representing a 29.53% drop from the previous day’s volume. The chipmaker ranked 28th in market activity among listed stocks. Analysts noted the muted performance despite broader semiconductor sector stability, with market participants citing short-term profit-taking following recent gains.Key drivers for the session included mixed signals from supply chain updates and ongoing macroeconomic concerns. While no direct earnings or partnership announcements impacted the stock, investors remained cautious ahead of potential U.S. Federal Reserve policy decisions later in the month. Technical indicators showed bearish momentum, with the 20-day moving average acting as a near-term resistance level.
To run this back-test rigorously I need to pin down a few practical details that aren’t fully specified yet: 1. Universe • Should the ranking pool be “all U.S. common stocks” (≈ 6,000 names), only those in the Russell 3000, or some other universe? • Are ADRs, ETFs, preferreds, etc. excluded? 2. Trading & pricing convention • Enter at today’s close and exit at tomorrow’s close, or enter at tomorrow’s open and exit at tomorrow’s close? • Equal-weight each of the 500 names at entry, correct? • Any transaction-cost assumption to apply (bid/ask, commission, slippage)? 3. Benchmark / performance metrics • Is simple portfolio-level return and max-drawdown sufficient, or would you like additional stats (e.g., Sharpe, turnover, hit-ratio)? Once I have those details I can generate the signals, run the back-test from 2022-01-03 through today (2025-10-02), and present the results.

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