It was a disaster to trade the news today if you’re following the indicators’ release.
PMI
*FEB CHICAGO PURCHASING MANAGER INDEX: 47.9 V 50.0E – Prices Paid: 63.2 v 54.9 last
New Home Sales
*JAN NEW HOME SALES: 937K V 1.080Me, lowest rate since Feb 2003 – translates to -16.6% m/m
- prior revised to 1.123M from 1.120M
If you’re following the numbers, chances are you’d be shorting; and that’s what I did for the cable.
Stop loss triggered. Bad day.
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