The Snapshot Trader- Cloudy with a chance of screwballs newSubmitted by 2nd_ave (4954 comments) on Tue, 11/16/2010 - 07:17 #74240
So yesterday it was buy-out mania, and this morning the media wafts an Irish-Chinese spear into the headlines.
There is another definition of screwball: 'A pitched ball that curves in the direction opposite to that of a normal curve ball.' Were we to fade the media pitch we would be buying into the 'just a pullback' take that seems to be making the rounds. What if it's a screwball pitch that we should in fact turn into?
It's almost easier having no time to game it right now. I see the same RSI snapshot this morning, and plan to take a pass on trading today.