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Employment Report 2/2/07


Did anyone trade the news today as it broke? (I never trade in front of the news, but will maintain a position that's already open.)

I've had some luck with brackets on market moving news and some disasters as well. Lately, I've noticed it's easy to get caught in the switches so I've put on only one side of the trade with a tight stop.

This morning I decided to play a breakout with a buy limit at 1452 and it worked. The other side of the trade was a sell at 1450 which I luckily passed on as the market briefly traded through and then spiked up. Had I put on the bracket order, the trade was break even.

Not for the faint hearted but instantly gratifying if you don't hedge and happen to be on the right side. Decent risk reward.