As traders, our job is not to predict what will or what will not happen. I have no idea if the company will PR a deal. I don’t
Even know if there is a deal to PR. Frankly, it does not matter.
Look for your set up, your edge. When it presents itself, then make a bet. You have no idea if it will work or not.
Read the tape. If the trade is working, keep Riding it. If it’s not acting well, cut it loose.
Don’t get attached. It doesn’t matter if there is a deal. Don’t try to predict. The tape will let you know. The price action will let you know. That price action will be confirmed by volume. If there is no volume, just sit tight and let it play out.
PS, currently, high volume on this name begins at 5+ million. We have recently had days as high as 12 million. If we are below those levels, no action is needed.
PSS, as a reminder try not to get attached to any trade. If it’s not working, cut the trade. Simple. If you make a decision on low (non-confirming) volume, realize you have allowed yourself to get shaken.
PSS, forget the deal. It doesn’t matter. The volume will let you know.
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