DislikedI kept the following post made by FibStalker last week as I completely agree with it.
[b][i]
"News is relevant only when it contributes to break sequences of measured moves induced by Program Trading on the larger time frames, i.e. daily and weekly. But very rarely news is capable of doing that: what can really change market direction is huge and coordinated participation from smart money and/or central banks. For instance, the S&P500 was turned higher twice in the last 3 years: the first time in March 2009 and the second time in May-July 2011...Ignored
Question:
Would Goldsmans fall into the 'Smart Money' or only CB's..etc?
http://ransquawk.com/headlines/marke...ast-01-02-2013