Tuesday, February 10, 2009

NQ Futures Trade - Geithner Plan

Another buy the rumor, sell the news story from Washington. Remember we had a nice pop on the rumor of the bad bank plan on January 28th. Now, when the actual details of the plan, or lack thereof, are announced, we sell.

2 comments:

PDT said...

Thats a textbook capitulation spike.

Would you ever consider trying to scalp the capitulation reversal?

Jamie said...

PDT,

I do sometimes, but I prefer a V bottom on capitulation.