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All About Day Trading by Jake Bernstein

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CHAPTER 18Use the News–Don’t Abuse the News

One of the mysteries of market life is a strange but frequent tendency for stock and other financial markets to move in a direction opposite from that which one would expect based on the news. Many traders, as well as the investing public, are surprised when negative news about a particular stock causes it to go up rather than down. Conversely there are many cases in which positive news causes the stock to move lower rather than higher. This is particularly frustrating as well as financially painful to individuals who react to the news by either buying or selling based on their expectation that the news will make them right. All too often investors who liquidate their holdings on a negative brokerage-house ...

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