Stupid Fake News Stories
I was reading the headlines of CNBC and Bloomberg (and Yahoo, Calculated Risk, Mish, etc.). The market headed up with a headline that the White House would consent to the executive pay limits pushed by Congress. I bought some SPY calls in response, expecting at least a rally for the day. The headline ended up being bogus. Stupid AP, and stupid me.
Don’t forget: There is risk in the accuracy of all news feeds. Just ask Bloomberg (Steve Jobs obit) or Google (Airline problems). If you plan on day trading or swing trading, plan on getting kicked in the nuts occasionally.
