Trading the “News”
I had not intended to take a trade today. As I documented on Friday, had we gotten a close below 144.10 on the SPYders then, and a positive close today, I would have gone long.
However, Friday’s close of 144.71 nullified my setup, so I was back on hold, waiting for another downswing before going long.
Then midday today I checked Yahoo Finance, and they had a glaring headline that said something like “Bulls Retake Wall Street”… and I knew what I had to do: I immediately contacted my broker and bought PUTS.
P.S. I’ve scrolled through their “headlines” tonight, and I can’t find that one now. Wonder where it went…
57 Percent In 24 Hours • DummySpots.com said,
August 14, 2007 @ 11:06 am
[…] Trading the “News” […]