Usually you'll get a fill at the top/bottom, even if you react fast. So why not fade the news? Specifically fade a move in reaction to a news report, in the opposite direction of the main trend. It is said that a economic report, by itself won't change a trend, which are the result of many factors that developed over time.
I make pretty good money fading news, especially economic news but nothing works all the time. If the market takes a huge leap on the news then it's typically not a good idea to fade it, or you have to be extremely patient fading it. You definitely don't want to fade an unemployment report that comes in at 5.5% when 5.0% was expected, for example. It's generally best to hop on the direction of the initial move after a bounce/pull back when the difference between actual and expected is large.