The Chowder Flowed Thick This Morning (X)
|AA chart following “chatter”|
You all know me, i like trading takeover chatter and rumors; they get my blood flowing. I believe they are the last relic of our past market that has not changed. You can still make a good living staying patient for chatter, getting and and getting out.
Iv watched 100’s of chatters over the years, you can tell within the first few candles if the chatter has legs or if you should stay away. usually volume is the indicator, if volume keeps coming in on the bid side taking offers stay in the buggy, have your offers out higher so you dont have to scramble…. anyway this morning we had quite a bit of chatter…
The chatter included Sterling Bancshares (SBIB) which is higher on unconfirmed takeover chatter. Also unconfirmed is that MGM Resorts
(MGM) may acquire Boyd Gaming (BYD) which is trading higher by more than 5%…Juniper Networks (JNPR), up 1.2%, and U.S. Steel (X), up 2%, are each the subject of renewed takeover rumors.
Remember 99% of these rumors do no materialize and are not to fall in love with, trade them up but dont marry them.