irby ,,,I once read, that the initial reaction to news is almost invariably wrong,,of course this is not always true , however it is a substantial amount of the time,,,this makes sense in the fact that the price has usually been moving in that direction anyway ,, caused by informed trading,,now the news is out ,,,and the uninformed react,,,usually this is too late,,,one caveat here ,, lately I have noticed that the initial reaction may not be over until it hits the paper the next day,,,I attribute this phenomenom, to the fact that there are a lot more people involved in the market in the last few years,,,consequently a lot more novices....
one thing I keep my eye on all day is the S&P futures,,,the relationship to them and liquid stocks is undeniable for a day trader..
russell |
