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News- Most is stupid news BUT

I do not use any news in my daytrading......I more macro trade than daytrade...much easier that way. You can see there is not a positive correlation to good..mkt goes down and vice versa.

However, 'fact(s)' are different

Example: From Bloomberg ( Schwarzmann vs Buffett). MBA's VS Street Smarts. YOU KNOW WHO WINS ALL THE TIME...Buffett....Street Smarts.

Blackstone's vulnerability was underscored March 10,(referring to March 10, 2008) when the company said fourth-quarter profit plummeted 89 percent amid what Schwarzman called a ``severe financial crisis.'' Banks started pulling back from most LBO lending last June after as much as $400 billion in debt sat unsold on their books and losses from the subprime-mortgage market increased. That is pulling out last June 2007.

This one fact about banks pulling most of their lending last june (2007)...the market was high.. and another one in Oct/07. Talk about 'fact' and futures.

This makes the couterintuitive trade/trading a million dollar propostion....key is to hold on and control your mind. Take half off wherever and let the rest run....just some great put options using a 50% rule....thats all you need or a futures contract(s) using nothing but 1-2-3's. If you use this pattern on commodities, metals, softs will find tons of opportunities.

And from a monthly perspective you can see a nice 1-2-3 top in Oct 2007 in S&P 500. That's all you need.

This is how I think you should trade news. This is freedom..letting your money run while you at the ballgame, beach, church, Las Vegas or wherever. This is how I trade the news. Took me a while to realize Occam's razor. Really does work.

Good luck.
One more point: Points for thought

Under charts section daytrading has a wonderful chart showing 10 year history on Dow.

Lets use rough measures..high 14100 + 7,300 low/2=10,700.

Simple rule. 5% variance either side makes you watch.

Lets see what happens in the next x months.