Markets are made up of two types of people:
those reacting to the news… and those who moved before it.
The headline… and the trade that already cleared through it.
The explanation… and the exit liquidity.
Thank you for playing.
They follow headlines.
You follow positioning.
Price moved before the article. Size was in before the “breaking” alert. By the time it’s being discussed, it’s already been expressed, distributed, and quietly handed off to someone discovering it in real time.
Funny how that works.
They’re asking if it’s still good.
You’re deciding how much to give them.
