This afternoon market was down quickly around 2;30pm because of the rumour about GS.Anyone knows where we can get to know the rumour in time?
By the time you get the news via what's available for average retail traders, it's already old news. Trade the charts, not the cause. IOW, it matters non why the price is moving, just the fact that it is makes it tradable. st
i think the better question, and certainly a Reg FD question, is how is it that GS denied these rumours thru improper channels. if you're going to make an announcement (denying a rumour), you HAVE to do it in a manner where all market participants have equal timely access. this is news that HAD to be done thru an official press release, not a comment to buddies who were able to act on it b4 anyone else knew. given how much the mkt dropped on the rumour, how valuable was the news that GS denied the rumour?.... look @ the tape. millions (maybe billions) were made based on this information...