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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: yard_man who wrote (4789)9/29/1998 11:29:00 AM
From: Patrick Slevin  Read Replies (1) of 44573
 
Most here, I believe, trade very short term except for Tom's positional trades and Allan Harris who trades the Open and exits the Close.

So, from my point of view anyway, it would not be a matter of conviction just a stab at a quick hit.

If I had to guess? The short-term guess would be to establish a long position shortly after 1 Eastern and sell the news; depending on the action it's possible the news should be sold immediately or a bit later.

The opportunity to get long will show itself as the likelihood of rumors re: "leaks" and such will create erratic swings.

Post announcement I believe no matter what the news is there will be a selling opportunity but it's going to be difficult to "hit" it just right.

________________________________________

Anyway, to try to answer your first question I don't think it matters which way due to the nature of this type of trading. My sense is the market has a high probability of closing negative.

As to the second question, I would say I've done nuttier things. If everything lines up in a fashion that appeals to me at the time I shall. I could not say at this moment in time. If I had to decide right now, I would say I would be on the long side but for how long after the announcement I can only say it would depend on the action and where my entry was.
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