The specialists/dealers really don’t care what the latest reason or price is. They just see an opportunity to build inventory at a value price and kick them out at higher levels.
For each timeframe we have 6 choices:
1. Buy Higher High
2. Sell Higher High
3. Sell the failure to make a new higher high
4. Buy the lower low
5. Sell the lower low
6. Buy the failure to make a new lower low
Which choice are you trading?
In the end, this is just a business of building inventory at lower prices and selling out your inventory at higher prices. The market makers never lose.
It's debatable. The short presented itself this morning long before the news was released this afternoon. Perhaps there was chatter about it or it leaked. Best to just focus on price patterns.
In memory of all those who were taken before their time.
https://obits.mlive.com/obituaries/annarbor/obituary.aspx?n=james-robert-paul&pid=103354
https://www.goodreads.com/book/show/1334384.What_I_Learned_Losing_a_Million_Dollars