Couple of basic market questions

Around news time is it possible to use the price action during the widening of the spread in order to get a jump on some big orders as soon as it tightens again? If this is the case will you always be able to get a good deal when the spread tightens again? Also, if there are 2 collections of limit orders of the same size (both large) on either side of current price will price always jump to the closest one, or does it need contracts to drive it there? Thanks

Short answer yes

Long answer... read darkstars thread market structure.. and that answer is sometimes it is possible.

hey, thanks for the recommendation, is there any chance of getting the long answer? I read darkstar's thread but I think I am still missing a piece in understanding the move in prices itself. Does the order furthest from and contrary to the movement from current price at news time hold the most information? How is it that that "good deal" becomes possible? thanks