I hear ya mate. I went short on both, just 20Gs each, I'm holding onto it, hoping Ive just done my usual trick of catching the bottom of a swell, but not the overall wave. Would be interesting to hear others accounts of news trading, its not something I tend to do often myself.
well since I just closed these positions, time to update this thread
sell $18.15 july 22
buy $17.01 August 5
buy $24.98 (same dates as above)
Conclusion ... the news was good, but disregarded by the public, I dont even think that article made the papers, but the fall certainly did. Since none of these looked to be great shorts without the news, i had to hold on through a fair nail biting period before the news made good. Bad trading practise? probably, but in this case it paid off.
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