I noticed that also. I have no idea, sometimes the news works like that and my guess is that it was leaked or just a strong feeling it was going that way?
That was very interesting also!
My trading on Friday almost shouldn't count. Whenever I have to rush out and don't have time to trade I always FORCE. I don't know why I overtraded etc. but that day could very easily have been profitable. Frustrated and until I can really focus again (too much workload right now) then I believe it is just too hard to really be there 'mentally'.
I think that all big investment companies have their own sources of news besides CNBC. A lot of times information get leaked few minutes ago. It think about couple weeks ago it got leaked almost 30 minutes before report came out.
One friend of mine works for big security company and he said they can get news before everybody else and I think it work the same way with all big investment companies. ( for example he told me date when iPnone 4 gonna come out on verizone about 4-5 months before it happened.) So big companies open their long term positions way before other traders. And when traders like you and me get that information we get the last pop of the whole move while they start getting profit. "Buy on rumors sell on fact" that's what they say!
That's why when you open position on fact news already included in price and it start moving oposit direction because they are taking profit.
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Amazing how trading the live market made me a bit clearer. I need to start heading to bed a bit earlier and get up early to hit the market.
I noticed something is that if I am 'wrong' with the general market condition, then I tend to give up for the day and walk away. So, I start off strong, the market does something that I don't understand 'yet' and then I give up. Interesting...
Check out the short I took today, as I think it was the 3rd trade. I called it quite a bit ahead....
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Well, yes, I have used Bugs Numbers to help me out some on seeing s/r lines, but not in the last week or so. I am mixed on his #'s as I could probably pull out many of these pivots ahead of time and do the same thing. Not taking anything away from Bugs, much like some could do what I have done and do much better or similar etc..
So, in a word, my feelings over bug's #'s are that I have 'mixed' emotions. They seem interesting thus far...
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