The Morning After the Downgrade

. August 8, 2011
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S&P downgraded U.S. debt this weekend. Where do you think stocks, Treasury bonds, and the dollar are trading this morning?

S&P 500: Down

 

Long-term Treasury bonds: Up


The dollar: Up


Surprised?

Short-term news usually doesn't move the markets in predictable ways. Most successful traders ignore the news and focus on strategies that have shown some evidence of working. The simplest one I know of is momentum.

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